Statkraft forced to cut growth because of lower electricity prices and higher costs
Europe’s largest renewable power producer is scaling back plans to build new wind and solar plants because of lower electricity prices and higher costs. Statkraft chief executive Birgitte Vartdal, who took over in April, has pledged to “sharpen” strategy to cope in a tougher environment. “The transition from fossil to renewable energy is happening at an increasing pace in Europe and the rest of the world.
“We still believe strongly in offshore wind and would like to stay in there, but we are reducing our ambition somewhat,” Vartdal said. Last year it bought Spanish renewable energy company Enerfin for €1.8bn. Statkraft is among several European utilities to slow growth plans over the past year. Denmark’s Ørsted, the world’s largest offshore wind developer, slashed its targets for 2030 by more than 10GW after running into difficulties on US projects.
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