Statkraft

The Norwegian state acquired its first ownership rights to a waterfall when they bought Paulenfossen in Southern Norway in 1895.

In 1921 The Norwegian Water Resources and Energy Directorate (NVE) was created to operate the nation's power plants. From 1950 to 1960, the state constructed large hydropower plants across the country.

In 1986 the power plants and central power grid were split off as Statskraftverkene, which was divided again in 1992 into Statkraft and Statnett. Statkraft SF was created as a government enterprise.

Through the 1990s and 2000s Statkraft acquired a number of local power plants in Norway in addition to expanding internationally. In 2004 Statkraft was reorganized as a limited company, Statkraft AS, still wholly owned by the state.

Statkraft has expanded internationally over the beginning of the 21st century, opening plants in Nepal (1993), Peru (2003), Chile (2004), India (2004), UK (2006), Albania (2007), Germany (office 1999, power generating from 2007), Brazil (2008), Netherlands (office from 1998, power generation from 2018), Ireland (2018)

The group has also opened offices in France (2009) and the United States

In 2007 Statkraft and E.ON signed a letter of intent to swap Statkraft's shares in E.ON Sweden in exchange for flexible power production assets and shares in E.ON. The total value of the asset swap was €4.4 billion. The transaction made Statkraft Europe's largest producer of renewable energy in 2018.

Hydroelectric power provides the majority of Statkraft's renewable energy. The total annual power production was 62.6 TWh in 2018.[1]

In 2013, Statkraft began constructing the Devoll Hydropower project In south eastern Albania. It consists of two hydropower plants, Banja and Moglicë in the Devoll valley, with an installed capacity of roughly 256 MW. Banja power plant was completed in 2016,[2] with the third being completed by 2019.[3] The total project is expected to cost more than 600 million euros.[4]

Production takes place in more than 300 hydropower plants in Norway, Sweden, Germany, UK, Turkey, as well as several countries in South America and Asia. Statkraft is involved in other hydropower projects in the Nordic region and Southeast Europe. The company is developing new production capacity in selected countries in South America and Asia.