startkraft
Statkraft is a Norwegian state-owned enterprise and Europe's largest renewable energy generator, producing 72.1 TWh annually across hydro, wind, and solar assets in 20 countries. It serves large corporate and industrial buyers via long-term Power Purchase Agreements, plus energy management and grid stability services.
- Company typePrivate
- Founded1895
- HeadquartersOslo, Norway
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What startkraft does
Statkraft is a Norwegian state-owned enterprise (statsforetak) founded in 1895 and headquartered in Oslo, operating as Europe's largest renewable energy generator with 72.1 TWh of annual generation, 95.7% of which comes from renewable sources. The company maintains a vertically integrated business across 20 countries, employing approximately 6,200 people, with its core portfolio spanning hydroelectric power (the historical and largest asset class), onshore wind, solar photovoltaic, and gas generation. Beyond physical generation, Statkraft has expanded into battery energy storage systems (BESS), grid stability services including synchronous condensers, floating solar technology (deployed in Albania with Ocean Sun), agrivoltaics (at Talayuela Solar in Spain), and green hydrogen development (the Holmaneset project with Fortescue in Norway).
The company's commercial model rests on four pillars: (1) wholesale generation and sale of renewable electricity to utilities, energy traders, and end consumers; (2) corporate and virtual Power Purchase Agreements (PPAs), with typical 10-year tenors providing price-stable renewable supply to large industrial and commercial buyers such as PepsiCo, Makro, Givaudan, Smurfit Westrock, and Hunton Fiber; (3) energy management and origination services including market access, hedging, flexibility management, and Guarantee of Origin certificates; and (4) emerging offerings including PPA 365, PPA 24/7, BESS, project hybridization, and district heating. The 2024 acquisition of Spain's Enerfín from Elecnor Group for approximately €1.8 billion added 1.5 GW of wind and solar assets and established Statkraft as the 10th largest wind producer in Spain with a 3+ GW Iberian portfolio, with downstream implications in Brazil where it also gained footprint.
Statkraft serves a primarily B2B enterprise customer base via direct sales teams operating from offices in Oslo (HQ), Valencia, Madrid, Sevilla, Dublin, and other regional hubs. Recent strategic moves include the May 2026 cPPA sleeving agreement with Shell España for Makro (an innovative distribution model for multi-site commercial buyers), the February 2026 partnership with OX2 for a 235MW/470 MWh BESS in Finland, and the April 2026 VPPA with PepsiCo and partners. The company is wholly owned by the Kingdom of Norway and is not publicly traded, operating as a strategic instrument of Norwegian energy policy while maintaining commercial discipline across its global portfolio.
startkraft firmographics
Firmographics- Name
- startkraft
- Legal name
- Statkraft AS
- Website
- https://statkraft.es
- Company type
- Private
- Founded year
- 1895
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Statkraft is a Norwegian state-owned enterprise and Europe's largest renewable energy generator, producing 72.1 TWh annually across hydro, wind, and solar assets in 20 countries. It serves large corporate and industrial buyers via long-term Power Purchase Agreements, plus energy management and grid stability services.
- Ownership category
- akta.pro rank
Where startkraft is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices5 records
Markets served
startkraft business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Infrastructure, Technology or R&D, Personnel, Marketing or Sales
Revenue model
- Renewable Energy Generation and Sale: Statkraft generates electricity from hydroelectric, wind, solar, and gas power plants and sells it to the market, utilities, and end consumers. The company operates as Europe's largest renewable energy generator with 72.1 TWh total generation and 95.7% renewable production share.
- Corporate Power Purchase Agreements (PPAs): Long-term contracts (typically 10 years) providing renewable electricity to large industrial and commercial consumers at stable prices. Statkraft has become a key PPA operator in markets like Spain, supporting approximately 2.1 GW of renewable project financing through pre-signed PPAs.
- Energy Management and Originación Services: Services including market energy services, hedging/coverage services, flexible energy management, comprehensive supply solutions, and renewable energy certificates (Guarantee of Origin). Targets enterprises and energy producers seeking market exposure management.
- Green Hydrogen and Ammonia Project Power Supply: Power supply agreements for green hydrogen and ammonia production facilities, such as the Holmaneset project with Fortescue in Norway, providing electricity for electrolysis-based hydrogen production.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
startkraft product offering
Product offeringCore offering
Statkraft generates renewable electricity from hydroelectric, wind, solar, and gas power plants and sells it through long-term corporate Power Purchase Agreements (PPAs) and wholesale markets, primarily to large industrial and commercial consumers, utilities, and energy producers across Europe and beyond. It complements generation with energy market services (hedging, flexibility, supply optimization), renewable energy certificates, grid stability services including synchronous condensers and battery storage, and project hybridization across wind, solar, and storage.
Product overview
Statkraft is Europe's largest renewable energy producer, operating as a vertically integrated energy company offering generation, trading, and market solutions. The core portfolio includes hydropower (primary storage and baseload), onshore wind, and solar photovoltaic generation assets. The company serves as a leading PPA provider in European markets, offering corporate PPAs, generator PPAs, and specialized products like PPA 365 and PPA 24/7 for continuous renewable supply. Beyond generation, Statkraft provides energy market and hedging services, renewable energy certificates, battery storage (BESS), project hybridization, grid services, and green hydrogen development. Key projects include Talayuela Solar (300 MW) and Talayuela II (55 MWp) in Spain, floating solar in Albania, and international BESS projects in Finland. The company also publishes the annual Green Transition Scenarios research report.
Differentiator
Problem solved
Functional benefit
Brands
- Boreal: Sustainability report name for Statkraft's Spanish operations, published annually to report on environmental, social, and governance performance.
Products and services
- Hydropower Generation Hydroelectric power generation from water flow, representing Statkraft's primary renewable energy source and providing 99.9% of the company's energy storage capacity. Targeted at wholesale electricity markets, utilities, and corporate PPA customers.
- Onshore Wind Power Generation Statkraft develops, builds, and operates onshore wind farms across Europe, supplying renewable electricity to wholesale markets and corporate PPA customers. Notable Spanish wind farms include Montes de Cierzo, Malpica, Cofrentes, Páramo de Poza, and Serras Faro-Farelo.
- Solar Photovoltaic Generation Statkraft develops, builds, and operates solar photovoltaic plants across Spain and other markets. Key assets include Talayuela Solar (300 MW), Talayuela II (55 MWp), Cabrera Solar I, El Rancho, and projects in Cádiz, with agrivoltaic practices such as sheep grazing and beekeeping.
- Corporate PPA (Power Purchase Agreement) Long-term (typically 10-year) contracts enabling companies to purchase renewable energy at stable prices to meet decarbonization and ESG targets. Statkraft is a leading PPA operator in the Spanish market, supporting approximately 2.1 GW of renewable projects via pre-signed PPAs.
- Generator PPA Off-take agreements where Statkraft purchases electricity from renewable energy generators, providing financing security for new renewable projects and supporting project finance.
- PPA 365 PPA product providing continuous renewable energy supply matched to a customer's annual consumption profile across all 365 days.
- PPA 24/7 24/7 PPA structure matching hourly consumption with renewable generation, enabling round-the-clock clean energy coverage for corporate customers.
- Energy Market and Hedging Services Market access, hedging/coverage services, energy flexibility management, and comprehensive supply solutions that help enterprises and energy producers optimize exposure to electricity prices.
- Renewable Energy Certificates and Carbon Reduction Issuance of Guarantee of Origin renewable energy certificates and carbon reduction support services enabling businesses to document renewable electricity use and emissions reductions for sustainability reporting.
- Battery Energy Storage Systems (BESS) Grid-scale battery storage systems co-located with wind and solar assets, supporting renewable integration, flexibility, and grid services. Includes Spanish BESS projects and the 235MW/470MWh project in Finland with OX2 scheduled for 2028 operation.
- Grid Services (Synchronous Condensers and Batteries) Provision of grid stability, inertia, and flexibility services through synchronous condensers and battery storage, supporting TSOs such as EirGrid and SONI with renewable integration under the Low Carbon Inertia Services programme.
- Project Hybridization
Quantifiable outcome
- 72.1 TWh renewable energy generated annually, with 95.7% from renewable sources
- +4 more outcomes
Companies that use startkraft
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
startkraft technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
startkraft partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, standard and minor.
- Shell EspañacoreInnovative cPPA sleeve arrangement for Makro agreement. Shell handles physical delivery of renewable energy from Statkraft while complementing with additional electricity to guarantee sufficient supply for 37 Makro centers and logistics platform. Pioneer model in Spanish market combining renewable PPA with flexible supply.
- PepsiCocore10-year Virtual Power Purchase Agreement (VPPA) with PepsiCo, Givaudan, and Smurfit Westrock for renewable electricity from a wind asset in Spain. The agreement aims to reduce an estimated 32,000 metric tons of CO2 emissions annually and is part of PepsiCo's broader sustainability strategy to achieve net-zero emissions by 2050.
- GivaudancoreCo-buyer in 10-year VPPA with PepsiCo and Statkraft, enabling favorable commercial terms typically reserved for large buyers. Supports value chain decarbonization across Europe.
- Smurfit WestrockcoreCo-buyer in 10-year VPPA with PepsiCo and Statkraft for renewable energy procurement supporting sustainability goals.
- OX2coreAgreement to develop 235MW/470 MWh battery energy storage system (BESS) in Finland, co-located with wind power projects. Scheduled to operate in 2028. OX2 manages assets and secures project financing from multiple financial institutions. Represents Statkraft's expansion into energy storage solutions in the region.
- ElecnorstandardEPC contractor for synchronous condenser (SynCon) installations in Ireland. Four facilities total (two new awards) at Coolkeeragh (Northern Ireland) and Quarry Lane (Republic of Ireland) under Low Carbon Inertia Services programme led by TSOs EirGrid and SONI. Elecnor executes through consortium comprising Elecnor Servicios y Proyectos, IQA Operations Group, and ESYP.
- FortescuecoreAmended and extended conditional power purchase agreement for Holmaneset green hydrogen and ammonia project in Norway. Revised agreement extends to 2029 and covers 10-year power supply supporting Fortescue's development activities and decarbonization ambitions. Subject to Fortescue reaching financial close and beginning operations.
- Hunton Fiberstandard8-year power agreement for electricity deliveries to Hunton's factory in Gjøvik, Norway, covering 153 GWh from 2026 to 2033. Provides stable competitive electricity prices supporting growth amid increasing demand for wood fiber insulation.
- PetrobrasminorPartnership with Petrobras and WEG SA to launch Brazil's most powerful onshore wind turbine (7 MW) in Bahia state. BRL 130 million investment under R&D clause of oil and gas concession agreements for Brotas de Macaubas Complex's Seabra Wind Farm.
- Makro Spaincore10-year PPA for supply of 59 GWh annually (rising to 85 GWh in extended agreement) covering 75% of Makro's energy consumption across 37 Cash&Carry centers and logistics platform. Makro receives Guarantee of Origin certificates for 100% renewable energy.
- WWF EspañastandardEnvironmental volunteering partnership for biodiversity conservation. Employees participate in reforestation activities including Doñana restoration (100 trees), Cortes de Pallás reforestation (300 trees), and Madrid Regional Park restoration (300 trees). Partnership includes follow-up monitoring and evaluation of planted areas.
Scale indicators19 records
Recent moves6 records
Expansion highlights7 records
startkraft competitors and assessment
Company assessmentBroad incumbents
- Engie: French multinational utility with substantial renewable generation, PPA origination, and energy management services across Europe and Latin America. Comparable as a large integrated player in corporate renewable supply and grid services.
- EDF: French state-owned utility with significant renewable generation, hydropower, and grid services across Europe. Comparable as a state-owned integrated utility with overlapping hydropower footprint and growing wind/solar portfolio.
- RWE: German-headquartered utility with rapidly expanding renewable portfolio (onshore/offshore wind, solar) and corporate PPA business across Europe. Comparable as a major European incumbent pivoting from thermal to renewables with overlapping PPA customers.
- Enel (Endesa): Italian-headquartered multinational utility with extensive renewable generation, distribution, and PPA origination in Iberia and Latin America. Comparable as a large European renewable generator competing with Statkraft in the Iberian PPA and renewables market.
- Iberdrola: Spanish-headquartered global renewable and grid utility with extensive onshore/offshore wind, hydropower, and corporate PPA operations across Europe and the Americas. Directly comparable as a vertically integrated renewable generator and major PPA originator in Statkraft's core Iberian and European markets.
Direct peers
- Fortum: Finnish state-owned utility with hydropower and nuclear baseload plus growing renewables in the Nordics. Comparable as a Nordic state-owned energy company overlapping in hydro, wind, and PPA origination with Statkraft in Northern Europe.
- Vattenfall: Swedish state-owned utility and major European hydropower generator with growing wind, solar, and heat operations. Closely comparable as a fellow Nordic state-owned renewable generator with similar hydro heritage, BESS investments, and corporate PPA activities.
- Acciona Energía: Spanish-listed pure-play renewable energy company with strong wind and solar presence in Iberia and Latin America. Comparable as a direct Iberian renewable competitor pursuing PPAs, hybridization, and grid-scale storage.
- Ørsted: Danish-listed global leader in offshore wind and renewables with active corporate PPA origination. Comparable as a pure-play renewable energy major pursuing large-scale generation, storage hybridization, and green hydrogen development.
- EDP Renováveis: Portuguese-listed pure-play renewable energy developer with strong Iberian wind and solar presence and active corporate PPA origination. Comparable as a major Iberian and European renewable competitor with significant PPA and BESS ambitions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
startkraft social profiles
Digital presencestartkraft financial estimates
Financial estimateRevenue estimate
Valuation estimate
startkraft leadership team
Management profileNumber of profiles
Profiles11 records
startkraft subsidiaries and ownership
Company hierarchySubsidiaries2 records
startkraft funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
startkraft M&A and investment
M&A and investmentM&A3 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about startkraft
What does startkraft do?
Statkraft generates renewable electricity from hydroelectric, wind, solar, and gas power plants and sells it through long-term corporate Power Purchase Agreements (PPAs) and wholesale markets, primarily to large industrial and commercial consumers, utilities, and energy producers across Europe and beyond. It complements generation with energy market services (hedging, flexibility, supply optimization), renewable energy certificates, grid stability services including synchronous condensers and battery storage, and project hybridization across wind, solar, and storage.
Is startkraft a public or private company?
startkraft is a private company. It is classified as state government owned and is currently operating.
When was startkraft founded?
startkraft was founded in 1895. It employs 5,001 to 10,000 people.
Where is startkraft based?
startkraft is headquartered in Oslo, Norway, in the Europe region.
How does startkraft make money?
Four revenue lines are on record. Renewable Energy Generation and Sale is the primary driver. The others are corporate Power Purchase Agreements (PPAs), energy Management and Originación Services and green Hydrogen and Ammonia Project Power Supply.
Who are startkraft's main competitors?
Broad incumbents on record are Engie, EDF, RWE, Enel (Endesa) and Iberdrola. Direct peers are Fortum, Vattenfall, Acciona Energía, Ørsted and EDP Renováveis.
Does startkraft have an API?
No public API is recorded for startkraft.