Clemens Kraft AS

What Clemens Kraft AS does

Clemens Kraft AS is a Norwegian small-scale hydropower (småkraft) developer and operator, founded in 2006 as a subsidiary of Allstad AS (formerly Opplysningsvesenets Fond/OVF) and currently ranked as Norway's second-largest company in the småkraft sector. The company develops, constructs, and operates run-of-river hydroelectric power plants ranging from under 1 MW to 27 MW, using Francis, Pelton, Kaplan, and overshot turbines, with a portfolio of 50 operating plants producing over 700 GWh annually — equivalent to electricity consumption of approximately 36,000 Norwegian households. Two additional plants (Kvammadalselvi and Føsseberge) are under construction, expected to commission in 2027 and 2028 respectively. Operating sites span Norway with offices in Oslo (headquarters), Bergen, and Narvik.

The business operates a land-and-expand model in which Clemens Kraft partners with local landowners (grunneiere) holding waterfall rights, obtains NVE concessions, builds the plants, and operates them under long-term arrangements. Revenue is generated by selling electricity into the Norwegian power grid through regional grid operators, supplemented by sales of origin guarantee certificates (GoO) documenting renewable production. The company is structured around full in-house capability across the development, construction, and operations lifecycle, with central functions in Oslo and technical/operational staff in Bergen and Narvik. Production is monitored remotely from a central control center operated by Dalane Kraft.

Clemens Kraft is privately held with a stable dual ownership structure: Allstad AS holds 50.1% (state-owned, under Nærings- og fiskeridepartementet) and Swiss pension fund CPV/CAP Pensjonskasse Coop holds 49.9%. Recent strategic moves include an April 2026 collaboration with Expert Analytics to apply machine learning to inflow forecasting and production planning, ongoing construction of two new plants, and continued NVE filings for additional developments such as Garbergelva in Selbu municipality.

Name

Clemens Kraft AS

Legal name

Clemens Kraft AS

Website

https://clemenskraft.no

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Clemens Kraft AS is Norway's second-largest small-scale hydropower developer, operating 50 run-of-river plants producing over 700 GWh annually for the Norwegian grid in partnership with local landowners.

Ownership category

akta.pro rank

Product category

Small-Scale Hydropower

NAICS

Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

akta.pro secondary industry

Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE)

Keywords

• Small hydropower
• Renewable energy
• Electricity generation
• Hydropower development
• Origin guarantees

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Electricity Production and Sales: Clemens Kraft generates revenue by producing electricity from their portfolio of 50 operating small-scale hydropower plants. The total annual production exceeds 700 GWh, which is sold to the power grid. Electricity production is renewable and benefits from favorable market prices, with the company noting good profitability in 2026.
2. Origin Guarantees (GoO): The company receives and sells origin guarantee certificates for their production, documenting that the electricity comes from renewable sources. These certificates are sold to third parties through service providers. Clemens Kraft produces more guarantees than needed to cover their own emissions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Clemens Kraft AS develops, constructs, and operates small-scale hydropower plants in Norway. It sells the electricity produced to the Norwegian power grid and sells origin guarantees tied to that renewable generation to third parties.

Product overview

Clemens Kraft AS operates a portfolio of 50 small-scale hydroelectric (småkraft) power plants across Norway, with 2 additional plants under development. The company offers development, construction, and operational management of run-of-river hydroelectric power plants ranging from under 1 MW to 27 MW capacity. Individual named power plants include Dvergfossen (31 GWh), Tokagjelet (75.6 GWh), Vangjolo (26.7 GWh), Romøyri (26.1 GWh), Jordal (24.1 GWh), Kupe (25 GWh), Vaksvik (22.5 GWh), Ullestad (21.5 GWh), Søråni (19.9 GWh), Berge (19.2 GWh), Sleveåne (17 GWh), Engeset (16.7 GWh), Bjåstad (15.9 GWh), Embla (15.7 GWh), Hatlestad (15.1 GWh), Grytneselva (14.1 GWh), Gudåa (11.2 GWh), Kvernfossen (9.1 GWh), and approximately 30 additional plants. Two projects are under construction: Kvammadalselvi (Aurland, ~14 GWh, expected 2027) and Føsseberge (Vang, 16-17 GWh, expected 2028). The company also provides a landowner portal (grunneierportal) for stakeholders. Total production exceeds 700 GWh annually, equivalent to ~36,000 households.

Differentiator

Problem solved

Functional benefit

Products and services

• Small-scale hydropower electricity

Quantifiable outcome

• Over 700 GWh annual renewable electricity production
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Expert AnalyticscoreTechnology or IntegrationClemens Kraft has entered a collaboration with Expert Analytics to develop better inflow calculations (tilsigsberegninger) for hydropower production. The project covers precipitation forecasting, inflow forecasting, data processing, machine learning, reservoir management, and production planning. Expert Analytics is a private R&D consulting firm specializing in data science, AI, mathematical modeling, and advanced software development, with 75% of their team holding PhDs.
• Småkraftforeningen (Norwegian Small Hydropower Association)coreOthersClemens Kraft is a member of Småkraftforeningen, the industry organization for the small hydropower sector in Norway. The association represents companies that own, have developed, or wish to develop small hydropower resources, or have special interest in the small hydropower industry.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Norsk Hydro: Major Norwegian industrial company with a long history of hydropower operations tied to its aluminium smelters. Operates large-scale Norwegian hydropower assets and is one of the broader incumbent power producers in the country, providing a benchmark for institutional Norwegian hydropower ownership even though its primary business is metals rather than power.
• Hafslund Eco ASA: Major Norwegian renewable energy company with large hydropower production assets, district heating, and bioenergy businesses, listed on Oslo Børs. While broader and significantly larger than Clemens Kraft, Hafslund is a key institutional comparator in Norwegian small/medium hydropower and renewable infrastructure that influences sector valuations and M&A benchmarks.
• BKK AS: Large Norwegian energy group based in Bergen operating hydropower, district heating, grid, and sales activities across western Norway. Overlaps with Clemens Kraft in hydropower generation and has a similar Norwegian regional operating model, but at substantially larger scale and broader vertical scope (grid ownership, retail).
• Statkraft: Norway's largest state-owned hydropower producer and Europe's largest generator of renewable energy. While much larger and operating across hydro, wind, and other technologies, Statkraft is the dominant incumbent in the Norwegian hydropower market in which Clemens Kraft operates, and competes for grid connection, water rights, and IPP customers at the broader utility level.

Direct peers

• Trøndelag Kraft: Regional Norwegian hydropower producer operating multiple run-of-river and small hydropower plants in Trøndelag. Directly comparable as a Norwegian small/medium hydropower operator with municipal ownership, and relevant peer for greenfield development economics, NVE concession work, and grid-scale renewable operations.
• Sognekraft AS: Small Norwegian hydropower producer focused on small-scale run-of-river plants in the Sogn region, owned by local municipalities. Very comparable business model and asset profile to Clemens Kraft's portfolio, even if smaller in scale; competes in the same regulatory and market environment for greenfield concessions and power sales.
• Agder Energi: Norwegian energy group with a sizable portfolio of small and medium-sized hydropower plants across southern Norway. Closely comparable to Clemens Kraft's small-scale run-of-river development and operations focus, owned by municipalities in the Agder region; competes for the same kind of greenfield small-hydro concessions and grid offtake.
• Skagerak Kraft: Norwegian hydropower producer and joint-venture partner with Clemens Kraft on the Føsseberge development project. Operates its own portfolio of Norwegian hydropower assets across Telemark and is a natural direct peer in greenfield development, grid-scale hydropower operations, and Norwegian regulatory navigation.
• Småkraft AS: Norway's largest small hydropower (småkraft) developer and operator, with a portfolio of small-scale run-of-river plants across the country. Direct competitor to Clemens Kraft in the same Norwegian small hydro niche; both develop, own, and operate small hydropower plants selling to the Norwegian grid, and Småkraft holds the #1 position in the sector where Clemens Kraft is #2.

Regional players

• Lyse Energi: Regional Norwegian energy company headquartered in Stavanger producing hydropower and operating telecom (Altibox) businesses. Operates Norwegian hydropower assets and has a comparable ownership/governance model rooted in regional municipalities, making it a comparable Norwegian regional hydropower producer even though it does not specialize in small-scale plants.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/clemens-kraft-as

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Clemens Kraft AS