Norwegian independent power producer (IPP) Statkraft has made final investment decisions (FID) in two solar PV projects in Ireland and the UK, combining 131MWp, in the second quarter of 2026.
The two solar PV projects are the 58MWp Kilcush solar PV plant in Ireland and the 73MWp Stargoose project in Eastern England, a project for which the company secured planning permission back in 2022.
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These two projects are part of more than 600MW of new renewable energy capacity that the IPP has made investment decisions on by the end of the first half of this year.
At the end of Q2 2026, the company had 1.9GW of utility-scale renewable energy projects under construction, with a 46MW solar-plus-storage project in Germany, 264MW solar PV in Ireland across three PV projects, including the aforementioned Kilcush, 149MW solar PV and 300MW BESS in the UK, two solar hybrid projects in Brazil with a combined 203MW capacity and a 182MW solar PV plant in Peru.
The Latin American projects were the main drivers for the company’s investment in its international assets during Q2 2026, which invested a total of NOK649 million (US$67 million), down year-on-year from the NOK755 million invested in Q2 2025.
Moreover, the company released its financial results for Q2 2026 with a net loss of NOK1.5 billion, reducing it by nearly fourfold from the same period a year ago when it registered a net loss of NOK6.5 billion. According to the company this was impacted by high resource rent tax in Norway.
The high Nordic power prices have also been a main driver for the increased underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) in Q2 2026, going up from NOK4.5 billion in Q2 2025 to NOK6.6 billion.
“Statkraft delivered strong results in the second quarter of 2026. Strategic divestments are now completed and planned cost reductions are on track. Over the past year, we have turned our ambitions into results. We have strengthened our core and reduced complexity and cost to improve competitiveness,” said Birgitte Ringstad Vartdal, president and CEO of Statkraft.
She added that the company’s strategy is set and that moving forward, “execution will be key”.
“By focusing on our core strengths, disciplined investments and strong market capabilities, we are well positioned to keep delivering value, supporting industry and accelerating the energy transition.”
