Norway’s Statkraft to Spend €1 Billion for Germany Renewable Expansion

Norway’s Statkraft, Europe’s biggest renewable energy producer, is planning to expand German assets in wind and solar electricity and green hydrogen in the years to 2030. The company’s investment in wind and solar alone is expected to total around €1 billion. Statkraft’s Germany country manager Goebel said the company is aiming to develop between 300 and 500 megawtts of wind and solar power capacity annually in Germany from 2027. By 2030 the Norwegian company aims to operate a total 2,000 MW of German wind and solar capacity, adding to an existing 1,800 MW power plant portfolio that also includes gas-fired plants.

“Germany is facing the great challenge of massively accelerating the expansion of renewable energy, in order to achieve the climate goals and create a faster exit from fossil fuels,” Goebel said.

“We can meet this challenge with very concrete solutions.”

“Total investment in the German renewables plants, one-third of which would be wind and two-thirds solar, of €1 billion would not be an unrealistic price tag” he said.

Regarding green hydrogen, Statkraft plans to have at least 250 MW of electrolysis plant capacity, which is used to turn renewable power into green (zero-carbon) hydrogen, ready for production in Germany by 2030.

This follows an announcement in April that a 10 MW pilot plant is planned for Statkraft’s existing industrial site in Emden, northern Germany, which should go into operation in 2025 to supply hydrogen fuel cell trucks.

Beil, the company’s vice president for hydrogen in Germany, said a final investment decision would be made by the end of this year, based on the availability of permits and subsidies.

“Further along, a 200 MW electrolysis plant was envisaged at Emden, where water supply and access to existing energy grids in the region made the location “ideal” Beil said.

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