Statkraft
Statkraft AS is Norway's state-owned, Europe's largest renewable energy producer, operating hydropower, wind, solar, biomass, and battery storage across 20 countries. It serves industrial and corporate customers via long-term power purchase agreements, energy trading, certificates, and grid-flexibility services.
- Company typePrivate
- Founded1895
- HeadquartersOslo, Norway
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Statkraft does
Statkraft AS, headquartered in Oslo and founded in 1895, is a Norwegian state-owned enterprise (wholly owned by Statkraft SF under the Norwegian Ministry of Trade, Industry and Fisheries) and Europe's largest renewable energy producer. The company develops and operates renewable energy assets across hydropower, onshore and offshore wind, solar, gas, and biomass, and is a global energy market operator. In 2025 it produced 72.1 TWh of energy with a 95.7% renewable share, operates in approximately 20 countries with around 6,200 employees, and runs what it describes as the world's largest virtual power plant at roughly 10 GW of aggregated capacity. Core generation assets include Norway's Blåsjø reservoir (the country's largest hydropower reservoir, functioning as a multi-year storage 'battery'), the 600 MW Baltic Cable HVDC interconnector between Sweden and Germany, and an expanding portfolio of battery energy storage systems across Ireland, the UK, Germany, and Finland.
Statkraft generates revenue primarily through wholesale electricity sales from its generation fleet, long-term power purchase agreements with industrial and corporate customers, energy market trading and market-access services, and the sale of renewable energy certificates and guarantees of origin. Its go-to-market is enterprise-focused, secured through direct negotiation of bespoke PPAs (corporate, upstream, 365, and 24/7 structures) with energy-intensive industrial customers such as Hydro, Alcoa, Elkem, and PepsiCo, plus co-buyer arrangements (e.g., Givaudan, Smurfit Westrock) and telecom customers (Play in Poland). The company monetizes flexibility through its virtual power plant and battery storage optimization, offers tailored data center solutions, and operates district heating in Sweden via Statkraft Varme. Its state-owned parent structure, 125-year operational history, and control of strategic water rights and HVDC interconnectors underwrite a unique cost and regulatory position in European renewables.
The business model is in active transition. Q1 2026 net operating revenues reached NOK 18.1 billion (up from NOK 15.8 billion in Q1 2025) and underlying EBITDA reached NOK 13.3 billion (up from NOK 10.9 billion). In 2025 Statkraft executed portfolio optimization including approximately NOK 13.5 billion of asset sales (notably the Malana Power stake in India and the Mer UK EV charging network) and announced an NOK 80 billion Norwegian investment program over the next decade focused on hydropower renewal and wind. Investment, product, and partnership momentum spans Blåfjell Pump (54 GWh uplift), Zerbst solar-storage hybrid (Germany), Irish grid-scale BESS and 500 MW solar milestone, Thurrock 300 MW UK BESS, OX2 Finland 235 MW BESS optimization, Brazilian 340 MWp solar additions, and long-term PPAs with PepsiCo, Syngenta, Hydro, Alcoa, Elkem, and Play.
Statkraft firmographics
Firmographics- Name
- Statkraft
- Legal name
- Statkraft AS
- Website
- https://statkraft.com
- Company type
- Private
- Founded year
- 1895
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Statkraft AS is Norway's state-owned, Europe's largest renewable energy producer, operating hydropower, wind, solar, biomass, and battery storage across 20 countries. It serves industrial and corporate customers via long-term power purchase agreements, energy trading, certificates, and grid-flexibility services.
- Ownership category
- akta.pro rank
Statkraft industry classification
Industry- Product category
- Renewable Energy Generation
- NAICS
- Hydroelectric Power Generation (221111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Biomass Electric Power Generation (221117), Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Corporate PPAs (C&I Offtake; Sleeved/Virtual/Physical) (EUAGADAA)
- akta.pro secondary industries
- Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), PPA Origination, Advisory & Contract Management (Negotiation, Credit, Settlements) (EUAGADAL), Contracted Wind Power Generation (PPA/CFD/FiT-backed) (EUACAFAJ), Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI), DER Financing, Leasing & Billing Platforms (TPO, PPA, On-Bill) (EUAMAJAJ)
Keywords
Where Statkraft is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices22 records
Markets served
Statkraft business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales
Revenue model
- Renewable Energy Generation: Statkraft develops and operates renewable energy assets including hydropower, wind power, solar power, and gas-fired power plants, generating revenue from electricity sales
- Energy Trading and Market Operations: Global company in energy market operations providing market access, trading, and optimization services for renewable energy assets
- Power Purchase Agreements: Long-term contracts supplying renewable electricity to industrial customers including aluminum producers, telecoms, and corporate customers
- Energy Certificates: Sale of renewable energy certificates, guarantees of origin, and carbon emission reductions to corporate customers
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Statkraft product offering
Product offeringCore offering
Statkraft develops and operates renewable energy assets across hydropower, wind, solar, gas, and biomass, while trading energy globally as a market operator. The company sells renewable electricity through long-term Power Purchase Agreements (PPAs) to industrial and corporate customers, issues energy certificates and guarantees of origin, and provides grid flexibility, balancing services, and battery storage optimization through virtual power plants and market access services.
Product overview
Statkraft operates as Europe's largest renewable energy producer and a global energy market operator, offering a comprehensive portfolio of renewable energy solutions organized around multiple energy sources (hydropower, wind power, solar power, gas power, biomass, offshore wind) and commercial services. The company's core offerings include power purchase agreements (PPAs) for corporate and industrial customers, energy certificates and emissions reductions, market access and trading services, flexibility and balancing services through virtual power plants and battery storage, and data center solutions. The product portfolio spans from energy generation assets to sophisticated market solutions, supported by innovation initiatives in long-duration energy storage, wind blade recycling, distributed flexibility, and thermal energy storage. Statkraft's services range from full energy supply contracts to grid stabilization solutions, serving industrial manufacturers, utilities, data centers, and commercial enterprises across Europe, South America, and Asia.
Differentiator
Problem solved
Functional benefit
Products and services
- Hydropower
Quantifiable outcome
- 72.1 TWh renewable energy produced in 2025
- +4 more outcomes
Companies that use Statkraft
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
Statkraft technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Statkraft partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, flagship and minor.
- PlaycorePolish telecom operator (controlled by Iliad) extended renewable power supply contract for three years. From January 2027, Play will receive 51 GWh annually of renewable energy, reflecting Play's growing commitment to sourcing renewable energy for operations.
- ElkemcoreLong-term power agreement to secure continued industrial operations at Elkem's Bjølvefossen plant in Norway. Agreement enhances predictability, protects around 150 jobs, and improves competitiveness for the facility producing 60,000 metric tons of foundry alloys annually with carbon footprint one-third of global industry average.
- AlcoaflagshipTwo new power agreements securing approximately 4.8 TWh of electricity during 2028-2031 for Alcoa's Lista aluminium plant in Southern Norway. Supports full nameplate capacity of 95,000 metric tonnes per year following restart of Production Line 2 (31,000 tonnes). Alcoa is one of several major industrial companies to sign new long-term power contracts during the year.
- FairWindminor2.5-year operations and maintenance contract for 34 wind turbines at La Herreria and Pasada de Tejeda wind farms in Tarifa, Spain (operating since 2004, generating 120.3 GWh annually). FairWind's first project with Statkraft and first long-term O&M contract in Mediterranean region.
- PepsiCoflagship10-year virtual power purchase agreement for renewable wind energy from repowered wind asset in Spain. PepsiCo served as lead buyer alongside Givaudan and Smurfit Westrock. Deal expected to reduce 32,000 metric tons of CO2 emissions annually. Second cohort under PepsiCo's pep+ Renew program and first European renewable electricity cohort.
- GivaudancoreCo-buyer in PepsiCo VPPA for renewable wind energy from Spain as part of supply chain decarbonization efforts.
- Smurfit WestrockcoreCo-buyer in PepsiCo VPPA for renewable wind energy from Spain as part of value chain sustainability initiative.
- HydroflagshipTwo long-term power purchase agreements totaling 12.3 TWh over 10 years (0.9 TWh annually in 2029-2030, 1.3 TWh annually from 2031-2038) for Hydro's primary aluminium production facilities in Norway. 8.8 TWh allocated to NO2 price area, 3.5 TWh to NO3 price area. Extends existing partnership and secures long-term electricity supply.
- SUNCATCHERcoreAgreement covering marketing and optimization of three hybrid solar-plus-battery projects in Germany (Klötze II, Salzwedel, and Seehausen) with combined 34.5 MWp solar capacity and 12 MW/24 MWh battery storage. Statkraft markets the solar plants and battery storage as integrated hybrid units under profit-sharing model. Agreement runs until 2031.
- OX2coreSeven-year agreement to optimize two large-scale battery energy storage systems (BESS) with combined 235 MW capacity in Finland. Statkraft's largest BESS power purchase agreement in the Nordics includes revenue floor structure to support project financing. Batteries co-located with OX2's Kannisto (Halsua municipality) and Korkeamaa (Soini municipality) wind projects. Optimization starting in 2028.
- emsys VPPcoreIntegration of 300 MW Thurrock battery storage facility in Essex, UK into Statkraft's Virtual Power Plant. Enables participation in wholesale markets and grid stabilization through services like dynamic balancing and reactive power. Reference project for integrating large storage solutions into electricity markets.
- SyngentacoreFive-year virtual power purchase agreement covering Syngenta's Crop Protection & Seeds operations. Involves 125 GWh per year of green electricity (625 GWh total through 2030) linked to wind farm in German market. Syngenta's first vPPA supporting decarbonization strategy while enabling Statkraft to bridge wind farm operators no longer eligible for government subsidies with green power procurement contracts.
- Hydro Energiflagship10-year hydropower agreement for 326 MW, the largest PPA activity in Europe in April 2025 according to Pexapark's monthly report.
Scale indicators12 records
Recent moves11 records
Expansion highlights6 records
Statkraft competitors and assessment
Company assessmentBroad incumbents
- RWE: German utility with one of Europe's largest renewable and flexible generation portfolios, active in offshore wind, BESS, and corporate PPAs. Direct competitor in German/Northern European PPA bidding and grid services.
- Iberdrola: Global renewable leader with significant European hydro, wind, and solar exposure and large-scale corporate PPA origination. Competes head-to-head with Statkraft in corporate PPAs and grid services across European markets.
- ENGIE: French multinational utility with a large renewables portfolio and significant flexibility/storage buildout, plus global energy trading. Comparable to Statkraft on integrated generation + trading + flexibility model.
- Ørsted: Danish renewable leader focused on offshore wind, onshore renewables, and green hydrogen, with growing BESS portfolio. Competes with Statkraft in European PPA origination and increasingly in flexibility/storage.
- Électricité de France (EDF): French state-controlled utility with large hydro/nuclear/renewables portfolio and growing flexibility and PPA business. Competes with Statkraft in French and broader European corporate renewable supply and grid services.
- Enel: Italian-headquartered global utility with one of the world's largest renewable footprints, including European hydro and a sizeable PPA origination business. Overlaps with Statkraft on European renewables, flexibility services, and corporate offtake.
Direct peers
- Fortum: Finnish state-influenced utility with Nordic hydro and nuclear generation plus corporate sustainability offerings. Operates in overlapping markets with Statkraft (Finland, Sweden) and pursues comparable industrial customer decarbonization deals.
- Verbund: Austrian hydropower-dominated utility operating along the Alpine hydropower curve with significant generation, trading, and flexibility services. Directly comparable to Statkraft on hydro-led dispatchable generation and PPA origination.
- Vattenfall: Swedish state-owned utility with a comparable mix of hydropower, wind, and district heating across Northern Europe. Closely parallels Statkraft in ownership structure, Nordic hydro heritage, and corporate PPA activity.
Regional players
- CEZ Group: Czech state-controlled utility with diversified European generation (nuclear, hydro, wind, solar) and active in Central European PPA markets. Comparable in state-owned structure and integrated generation/trading model, though operating in different geographies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Statkraft social profiles
Digital presenceStatkraft financial estimates
Financial estimateRevenue estimate
Valuation estimate
Statkraft leadership team
Management profileNumber of profiles
Profiles18 records
Statkraft subsidiaries and ownership
Company hierarchySubsidiaries12 records
Statkraft funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Statkraft M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Statkraft
What does Statkraft do?
Statkraft develops and operates renewable energy assets across hydropower, wind, solar, gas, and biomass, while trading energy globally as a market operator. The company sells renewable electricity through long-term Power Purchase Agreements (PPAs) to industrial and corporate customers, issues energy certificates and guarantees of origin, and provides grid flexibility, balancing services, and battery storage optimization through virtual power plants and market access services.
Is Statkraft a public or private company?
Statkraft is a private company. It is classified as state government owned and is currently operating.
When was Statkraft founded?
Statkraft was founded in 1895. It employs 5,001 to 10,000 people.
Where is Statkraft based?
Statkraft is headquartered in Oslo, Norway, in the Europe region.
How does Statkraft make money?
Four revenue lines are on record. Renewable Energy Generation is the primary driver. The others are energy Trading and Market Operations, power Purchase Agreements and energy Certificates.
Who are Statkraft's main competitors?
Broad incumbents on record are RWE, Iberdrola, ENGIE, Ørsted, Électricité de France (EDF) and Enel. Direct peers are Fortum, Verbund and Vattenfall. CEZ Group is listed as a regional player.
Does Statkraft have an API?
No public API is recorded for Statkraft.
What industry is Statkraft in?
Statkraft's product category is Renewable Energy Generation. Its primary akta.pro industry code is EUAGADAA, Corporate PPAs (C&I Offtake; Sleeved/Virtual/Physical), with a secondary code of EUAGADAB, Utility-Scale Generator PPAs (Project Offtake). Its NAICS code is 221111 and its SIC code is 4911.