Norwegian outfit Statkraft is planning to ramp up wind and solar power developments as part of an updated its strategy in response to technological developments.
The company said in its results for the first half of 2018 that optimisation of hydropower is also part of the new strategy, as well as new business opportunities in renewables and decarbonisation.
“Flexible hydropower and intermittent onshore wind and solar power will be combined to deliver reliable, renewable and cost competitive energy to the customers,” Statkraft said.
The strategy will ensure that Statkraft “remains a leading company at the core of the renewable energy transition”, it added.
Statkraft reported a net profit of over Nkr10.5bn (€1.1bn) in the first six months of the year, up from just over Nkr4.6bn in the same period last year.
The boost in profit was mainly down to the sale of the company’s 30% interest in the 402MW Dudgeon offshore wind farm.
Positive currency effects also boosted profit, the company added.
Underlying earnings stood at almost Nkr9.2bn in the first half of the year, up from over Nkr7.8bn in 2017.
Generation from the company’s wind assets was down to 1.2 terrawatt-hours in the first six months of 2018, compared with 1.4TWh last year. This was mainly down to lower wind speeds in Sweden earlier in the year.
Hydro power output was up to 30.8TWh from 29.4TWh in 2017.
Image: Statkraft
Statkraft ramps up wind plans
By EBS