EnergyWatch

Statkraft gets started on gigawatt portfolio

The Norwegian utility is executing its first wind farm in a new market as a part of efforts to reach 6,000 MW of onshore wind capacity in 2025.

Statkraft has since 1013 been a co-owner of wind farm Baillie in Northern Scotland. | Photo: Jimmy Linus

The first of many wind farms planned by Statkraft on the British isles is becoming a reality. In connection with the presentation of its third quarter interim report, the Norwegian utility announces that it has taken the final financial decision regarding project Kilathmoy in southwestern Ireland — a project of 23.1 MW requiring an investment of EUR 31.5 million.

This announcement comes in the wake of Statkraft's purchase of Element Power in the beginning of the month. The utility has thereby acquired development projects for nearly 1,300 MW in Ireland and 250 MW in the UK – an important acquisition in the company's new strategy, in which its traditional assets in hydroelectric plants will be supplemented by 6,000 MW onshore wind and 2,000 MW solar up to 2025.

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