Statkraft
Overview
 
Statkraft is a Norwegian
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

 state owned electricity
Electricity
Electricity is a general term encompassing a variety of phenomena resulting from the presence and flow of electric charge. These include many easily recognizable phenomena, such as lightning, static electricity, and the flow of electrical current in an electrical wire...

 company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...

. With a total energy production of 44.9 TWh in 2007, the Statkraft Group is the third largest energy producer in the Nordic region
Nordic countries
The Nordic countries make up a region in Northern Europe and the North Atlantic which consists of Denmark, Finland, Iceland, Norway and Sweden and their associated territories, the Faroe Islands, Greenland and Åland...

, as well as the largest energy producer based on renewable energy
Renewable energy
Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...

 sources in Europe,

consisting of 40% of the production in Norway. Including the subsidiaries Skagerak Energi
Skagerak Energi
Skagerak Energi is a Norwegian utility company. The company's main focus is production and distribution of electrical power and other energy, in addition to business areas related to this...

 and Trondheim Energi
Trondheim Energi
Trondheim Energi, formerly Trondheim Energiverk, is a Trondheim, Norway-based power company and a subsidiary of Statkraft. The company owns the power grid and district heating in Trondheim and Klæbu as well as fourteen hydroelectric power plants in Nea and Nidelva as well as five partially owned...

, the group has some 2100 employees. The company has its headquarters
Headquarters
Headquarters denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top of a corporation taking full responsibility managing all business activities...

 in Oslo
Oslo
Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...

, Norway
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

.

Hydroelectric power provides the majority of Statkraft's renewable energy; it operates 133 plants in Norway, 12 in Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....

 and four in Finland
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...

.
Encyclopedia
Statkraft is a Norwegian
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

 state owned electricity
Electricity
Electricity is a general term encompassing a variety of phenomena resulting from the presence and flow of electric charge. These include many easily recognizable phenomena, such as lightning, static electricity, and the flow of electrical current in an electrical wire...

 company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...

. With a total energy production of 44.9 TWh in 2007, the Statkraft Group is the third largest energy producer in the Nordic region
Nordic countries
The Nordic countries make up a region in Northern Europe and the North Atlantic which consists of Denmark, Finland, Iceland, Norway and Sweden and their associated territories, the Faroe Islands, Greenland and Åland...

, as well as the largest energy producer based on renewable energy
Renewable energy
Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...

 sources in Europe,

consisting of 40% of the production in Norway. Including the subsidiaries Skagerak Energi
Skagerak Energi
Skagerak Energi is a Norwegian utility company. The company's main focus is production and distribution of electrical power and other energy, in addition to business areas related to this...

 and Trondheim Energi
Trondheim Energi
Trondheim Energi, formerly Trondheim Energiverk, is a Trondheim, Norway-based power company and a subsidiary of Statkraft. The company owns the power grid and district heating in Trondheim and Klæbu as well as fourteen hydroelectric power plants in Nea and Nidelva as well as five partially owned...

, the group has some 2100 employees. The company has its headquarters
Headquarters
Headquarters denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top of a corporation taking full responsibility managing all business activities...

 in Oslo
Oslo
Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...

, Norway
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

.

Hydroelectric power provides the majority of Statkraft's renewable energy; it operates 133 plants in Norway, 12 in Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....

 and four in Finland
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...

. The company also operates two windfarm
WindFarm
WindFarm is wind energy software used to analyse, design, optimise and visualise wind farms. It calculates and optimises the energy yield subject to natural, planning and engineering constraints. WindFarm has the wind modelling software MS-Micro integrated. MS-Micro is based on the same...

s in Norway, Smøla Wind Farm
Smøla Wind Farm
Smøla Wind Farm is a 68 turbine wind farm located in the municipality of Smøla in Møre og Romsdal county, Norway and operated by Statkraft. The farm is located southeast of Dyrnes on the island of Smøla. The farm covers an area of ....

 and Hitra Wind Farm
Hitra Wind Farm
Hitra Wind Farm is a 24 turbine wind farm located in the municipality of Hitra in Sør-Trøndelag county, Norway and operated by Statkraft. The farm is located on top of the Elsfjellet plateau in the central part of the island of Hitra, just south of the village of Straum and about west of Sandstad...

, in addition to district heating
District heating
District heating is a system for distributing heat generated in a centralized location for residential and commercial heating requirements such as space heating and water heating...

 in Trondheim
Trondheim
Trondheim , historically, Nidaros and Trondhjem, is a city and municipality in Sør-Trøndelag county, Norway. With a population of 173,486, it is the third most populous municipality and city in the country, although the fourth largest metropolitan area. It is the administrative centre of...

 and gas power and hydroelectric power in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...

.

Statkraft owns 100% of Trondheim Energi
Trondheim Energi
Trondheim Energi, formerly Trondheim Energiverk, is a Trondheim, Norway-based power company and a subsidiary of Statkraft. The company owns the power grid and district heating in Trondheim and Klæbu as well as fourteen hydroelectric power plants in Nea and Nidelva as well as five partially owned...

. In addition it has partial ownership of Skagerak Energi
Skagerak Energi
Skagerak Energi is a Norwegian utility company. The company's main focus is production and distribution of electrical power and other energy, in addition to business areas related to this...

 (66,62%), Naturkraft
Naturkraft
Naturkraft is a Norwegian power company that operates one natural gas powered thermal power station located at Kårstø. It also holds a permit to build a second one at Kollsnes...

 (50%), SN Power
SN Power
Statkraft Norfund Power Invest AS or SN Power is a Norwegian power company with investments in hydroelectricity in Chile, India, Nepal, Peru, the Philippines and Sri Lanka. Total mean average output from the 14 power stations is 3,343 GWh, with additional five projects with 5,793 GWh under...

 (50%), Bergenshalvøens Kommunale Kraftselskap
Bergenshalvøens Kommunale Kraftselskap
Bergenshalvøens Kommunale Kraftselskap branded as BKK is a Norwegian power company based in Bergen. BKK is owned by Statkraft , Bergen municipality and 16 other municipalities between Sognefjorden and Hardangerfjorden. It performs production and distribution of electricity, while end-user sales is...

 (49,9%), Agder Energi
Agder Energi
Agder Energi is a power company based in Agder, Norway. It is the second largest power producer in Norway, after its largest owner, Statkraft who owns it along with 31 municipalities in the region Agder. It operates 31 hydroelectric power plants, operates the power grid in 31 municipalities, as...

 (45,5%), E.ON Sverige
Sydkraft
E.ON Sverige AB, formerly known as Sydkraft, is Sweden's second largest utility company with an annual turnover of 42.9 billion Swedish Krona . The net profit for the 2008 fiscal year amounted to SEK 14.88 billion...

 (44,6%) and Småkraft.

History

The state bought its first power plant in 1895, at Paulafossen. In 1921 Norges vassdrags- og energiverk was created to operate the nation's power plants. In 1986 the power plants and central power grid were split off as Statkraftverkene, which was divided again in 1992 into Statkraft and Statnett
Statnett
Statnett is a Norwegian state owned enterprise responsible for owning, operating and constructing the stem power grid in Norway. The company has its headquarters in Oslo, Norway....

, with Statkraft SF being created as a government enterprise. Through the 1990s and 2000s Statkraft acquired a number of local power plants in Norway in addition to expanding abroad. In 2004 Statkraft was reorganised as a limited company
Limited company
A limited company is a company in which the liability of the members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. And the former of these, a limited company limited by shares, may be...

, Statkraft AS, still wholly owned by the state.

In 2007 Statkraft and E.ON
E.ON
E.ON AG, marketed with an interpunct as E•ON, is the holding company of the world's largest investor-owned energy service provider based in Düsseldorf, Germany. The name comes from the Greek word aeon which means eternity....

 signed a letter of intent to swap Statkraft's shares in E.ON Sverige
Sydkraft
E.ON Sverige AB, formerly known as Sydkraft, is Sweden's second largest utility company with an annual turnover of 42.9 billion Swedish Krona . The net profit for the 2008 fiscal year amounted to SEK 14.88 billion...

in exchange for flexible power production assets and shares in E.ON. The total value of the asset swap is € 4.4 billion. A final agreement was to be signed during the first quarter of 2008.

Current Strategy

Statkraft's current strategy is growth in three directions :

1) Industrial developer in Norway.
Statkraft wants to be a driving force in developing the clean energy market in Norway and secure the country with stable energy sources in the future.

2) European flexible power producer
Through it resources of regulative energy production, Statkraft wants to increase its market operations in Europe. The company's position, competence and strong financial position makes a solid platform for future growth.

3) Green global developer
It is estimated increased demand for clean energy in years to come, and stronger demands for sustainable energy solutions. Statkraft therefore want to be strong in the niche market of hydro power and renewable energy sources in Europe.
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