Norwegian energy giant Statkraft has announced it will invest a total of $1.23bn in renewable energy between 2019 and 2025.
The company, which employs around 3,500 people and is currently Europe’s largest producer of renewable energy, aims to increase its onshore wind capacity to 6GW and boost solar capacity to 2GW by 2025.
The company has also stated it aims to triple its volumes managed on behalf of its customers, and will look to invest in new, green business opportunities. Statkraft expects a lot of growth to come from Europe, but will also look to expand in South America and Asia.
Statkraft CEO, Christian Rynning-Tonnesen, stated: “The combination of our unique portfolio of flexible hydropower, in-depth market understand understanding, innovative solutions, as well as our customers’ increased interest in renewable energy make us a preferred partner for both producers and consumers of clean energy.
“Overall, the strategy will contribute to increased value creation and develop Norwegian renewables competence in line with the changes we see around us.”