Norway Statkraft to Invest USD 1.2 Billion a Year in Renewables Until 2025
Norwegian power firm Statkraft plans to invest USD 1.2 billion a year in renewable energy from 2019 to 2025. In addition to upgrades of Nordic hydropower facilities, the state-owned company plans to reach a capacity of 6,000 megawatts (MW) in onshore wind and 2,000 MW in solar power by 2025. It said that “Statkraft also has an ambition to triple its volumes managed on behalf of customers.”
Annual investments in the renewal of Norwegian hydropower plants will amount to 1.2 billion crowns.
The company said in a statement that “The majority of growth will come in Europe, while substantial growth will be added to markets where Statkraft is already present in South America and India.”