- Statkraft plans to invest around NOK 80 billion in Norwegian power generation over the next ten years.
- About half (approximately NOK 40 billion) is earmarked for major maintenance to safeguard existing generation, with the remainder for upgrades, new capacity and wind repowering.
- Hydropower accounts for more than NOK 70 billion of the plan, covering major plant refurbishments, dam reinforcements and tunnel/equipment replacements nationwide, while wind repowering aims to more than double wind output within ten years.
Investment overview
Statkraft plans to invest about NOK 80 billion in Norwegian power generation over the next ten years, up from the prior NOK 44–67 billion estimate due to a larger project portfolio, inflation and an extended planning horizon; the company has invested nearly NOK 4 billion in the past two years and is building the Svean hydropower plant (~NOK 1.2 billion).
Allocation and targets
Roughly half the funding is earmarked for major maintenance to safeguard existing generation capacity and half for upgrades, further development and new capacity; hydropower accounts for more than NOK 70 billion, with an ambition to start at least five major upgrade projects by 2030 to increase capacity and operational flexibility.
Infrastructure work and contractor opportunities
Planned work includes large-scale refurbishments of dams, reinforcement to meet stricter safety and climate resilience requirements, replacement of critical technical equipment and tunnel and waterway upgrades, creating opportunities for contractors nationwide; specific projects include assessing upgrades at older plants such as Nore (1928), Mår (1948) and Aura (1953) and expanding Alta from two to three generating units to utilise flood-season water.
Wind power, approvals and project selection
Statkraft will also invest in wind repowering to increase output (the planned Moifjellet project alone can deliver more new energy than aggregated hydropower upgrades), aims to more than double wind generation over ten years, and will prioritise projects that obtain NVE and municipal approvals and meet profitability requirements before final investment decisions.
