Statkraft delivered strong operational performance in the second quarter of 2025, supported by high power generation and strong realised margins. Lower prices, particularly in northern Norway and Sweden, reduced results and led to impairments, mainly in the onshore wind portfolio. The company is focusing on a more streamlined strategy after a period of high energy prices and increased investment costs.
It has divested development activities in Croatia and Enerfin assets in the USA, and agreed to sell assets in Colombia. Sales processes for solar and hydropower assets in India, solar assets in the Netherlands, and Enerfin assets in Canada are ongoing. Development activities in Portugal and Australia have been stopped, and the company is also reviewing its position in Poland.
Statkraft is reducing its technology portfolio, seeking new owners for district heating, Silva Green Fuel and Mer. New development of green hydrogen and further offshore wind has been stopped, with the exception of the North Irish Sea Array offshore project. The company will focus on core markets and technologies, including large hydropower upgrades in Norway and new onshore wind projects in Norway and Sweden. Growth in solar, wind, batteries and grid services will continue in Europe and South America at a slower rate, prioritising projects with short lead times.
In the quarter, power generation totalled 15.2 TWh, including 12.6 TWh of hydropower and 2.0 TWh of wind. New wind farms in Brazil and Spain contributed to the increase.
Underlying EBITDA fell to NOK 4.5 billion from NOK 6.5 billion, mainly due to lower Nordic prices. Impairments of NOK 6.3 billion, including NOK 3.0 billion related to Swedish and Norwegian wind power assets, contributed to a net loss of NOK 6.5 billion.
