Statkraft

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.

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

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

• Renewable energy generation
• Power purchase agreements
• Hydropower operations
• Energy market trading
• Grid balancing services

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices22 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. 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
2. Energy Trading and Market Operations: Global company in energy market operations providing market access, trading, and optimization services for renewable energy assets
3. Power Purchase Agreements: Long-term contracts supplying renewable electricity to industrial customers including aluminum producers, telecoms, and corporate customers
4. 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

Core 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

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered core, flagship and minor.

• PlaycoreStrategic or Co-development Partner · 1 June 2026Polish 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.
• ElkemcoreStrategic or Co-development Partner · 1 June 2026Long-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.
• AlcoaflagshipStrategic or Co-development Partner · 1 June 2026Two 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.
• FairWindminorImplementation/ SI/ Consulting Partner · 1 June 20262.5-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.
• PepsiCoflagshipStrategic or Co-development Partner · 1 April 202610-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.
• GivaudancoreGTM or Marketing Partner · 1 April 2026Co-buyer in PepsiCo VPPA for renewable wind energy from Spain as part of supply chain decarbonization efforts.
• Smurfit WestrockcoreGTM or Marketing Partner · 1 April 2026Co-buyer in PepsiCo VPPA for renewable wind energy from Spain as part of value chain sustainability initiative.
• HydroflagshipStrategic or Co-development Partner · 1 April 2026Two 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.
• SUNCATCHERcoreTechnology or Integration · 1 February 2026Agreement 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.
• OX2coreStrategic or Co-development Partner · 1 February 2026Seven-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 VPPcoreTechnology or Integration · 1 February 2026Integration 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.
• SyngentacoreStrategic or Co-development Partner · 1 January 2026Five-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 EnergiflagshipStrategic or Co-development Partner · 1 April 202510-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

Broad 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

• Xx.com/Statkraft
• YouTubeyoutube.com/user/StatkraftChannel
• Facebookfacebook.com/statkraft
• LinkedInlinkedin.com/company/statkraft
• Instagraminstagram.com/statkraft

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries12 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Statkraft