Statkraft accelerates onshore renewables annual target to 4GW by 2030

Statkraft also aims to increase its green hydrogen development to 2GW by 2030. Image: Statkraft.

Energy giant Statkraft intends to develop 4GW of onshore renewables each year by 2030, an acceleration of its previous 2025 target of 2.5GW – 3GW.

By the end of the decade Statkraft aims to have developed 30GW of renewables capacity which will mostly come from solar PV, wind and battery storage and would increase its current annual power generation by 50% to nearly 100TWh per year by 2030.

The updated growth strategy will be focused on four “strategic pillars” which are hydropower; accelerating solar, wind and battery storage; provide market solutions to customers and the scaling up of green energy technologies such as green hydrogen, biofuel or electric vehicles (EVs) chargers.

Among those green energy technologies, Statkraft intends to reach 2GW of green hydrogen production capacity by 2030, both by continuing developing in Nordic markets (Norway and Sweden) as well as expanding in newer markets.

Statkraft recently collaborated with Aker Horizons with the intention to explore possible green hydrogen projects in India and Brazil.

“The need for renewable energy is increasing sharply, both to meet net zero targets, cover new power consumption in Norway and strengthen European energy security. Combined with increased investment capacity, Statkraft is now boosting the pace of developing more renewable energy. As we look towards 2030, we raise our ambitions higher than ever with significantly higher growth ambitions across our geographies and technologies,” said Christian Rynning-Tønnesen, CEO at Statkraft.

Last May, Statkraft opened its first large-scale solar PV project in India with the ambition to ramp up its renewables operation in the South Asian country.

Earlier this year, the Italy division of the company had partnered with an Italian university that would explore the potential of agrivoltaics in Europe with a research that will examine the best integration between solar PV and agricultural production.

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