Statkraft is planning to invest up to six billion euros in upgrades to its Norwegian hydro and wind power facilities and construction of new onshore wind farms.
The investment program will include:
- 1.8 – 3 billion euros in upgrades and transformations of Norwegian hydroelectric power plants.
- 1.2 – 2 billion euros in rehabilitation of dams and modernisation of older power plants.
- Around 1 billion euros in renewal of existing and construction of new onshore wind farms.
- 2,500 GWh or more wind power production (more than double the current production).
- 1,500-2,500 MW increased capacity in hydroelectric power plants (over 20% increase in installed capacity).
The increased power needs of the future in Norway will mainly be covered by new wind power, but hydropower will still be the backbone of the Norwegian energy system with its unique features.
