Norway Has Opportunity to Participate in Global Energy Transition, Statkraft Says

At a summer seminar at Statkraft’s Lilleaker head office, the President and CEO presented the company’s plans for the future, including a stronger international focus.

“Norwegian expertise and solidity are highly sought-after assets. We now have a unique opportunity to participate in the global energy transition,” Statkraft President and CEO Christian Rynning-Tønnesen stated Thursday.

“We are in the middle of an energy revolution which will provide more renewable energy and less fossil energy dependency,” Rynning-Tønnesen said.

Statkraft will from now on follow two main paths:

1. Participate in Europe’s transition to cleaner power production

2. Build new, clean electricity generation in emerging markets

There are major opportunities inherent in the ambitious energy and climate policy conducted in Europe, and subsidy regimes make investments profitable. Statkraft already has a strong foothold in Europe.

“We recently confirmed our position as the largest renewable energy company in Europe. We will work hard to retain this position,” said Rynning-Tønnesen.

He also pointed to the great business opportunities outside Europe.

“While the West is in the throes of transition, emerging markets are growing. Populations are growing, economies are growing and wealth is growing. This creates a greater need for energy.”

With the climate challenges forming a shared, global backdrop, there is little doubt that the energy need in the emerging markets must be covered mostly by renewable sources of energy. Statkraft is already well-positioned in many of these markets, Rynning-Tønnesen explained.

Statkraft is engaged in renewable energy production in India, Turkey, Brazil and many other growing markets through SN Power.

“These markets represent large, profitable growth opportunities for Statkraft as a company and for Norway as an energy nation,” Rynning-Tønnesen stated.

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Press release, August 27, 2013; Image:Statkraft