Our History

Statkraft’s history is inextricably linked to the development of renewable energy in Europe. Although Statkraft was not established as an independent enterprise until 1992, our power plants and business operations date back as far as the end of the 19th century, when the power in Norway’s waterfalls was first harnessed.

1895 The Norwegian state pays NOK 23,245 to buy its first waterfall, Paulenfossen, to supply electricity to the Setesdalsbanen railway line. 

1921 The Norwegian Water Resources and Energy Directorate (NVE) is created and given responsibility for constructing and operating Norway’s state-owned power plants.

The Norwegian Storting (parliament) allocates funds for the regulation of the Numedalslågen river and the purchase of the Glomfjord power plant in Nordland. 

1960 Direktoratet for Statskraftverkene (the Directorate for State-Owned P           ower Plants) is created as a separate department within the NVE.

1986 Statskraftverkene becomes an autonomous state-owned enterprise under the ownership of the Ministry of Petroleum and Energy.

1992 Two state-owned enterprises are created out of the original one: Statkraft SF for power generation and Statnett SF for the national distribution grid. Proposition no. 100 to the Storting states: “Statkraft shall be operated as a commercial enterprise, but will have responsibility for statutory-priced contracts.”

1996 Statkraft acquires its first shares in other companies: Sydkraft and Oslo Energi Produksjon.

1997 The first long-term supply contracts with Norwegian industry are signed with Hydro and Norske Skog. Construction of the last major hydropower scheme, Svartisen in Nordland, is completed.

1998 Statkraft opens its first European trading office in Amsterdam, The Netherlands.

1999 Statkraft acquires shares in BKK and Scanenergi. A trading office is opened in Düsseldorf, Germany.

2001 Statkraft acquires 1/3 of Baltic Cable, the cable between Sweden and Germany. Construction of Norway’s first large-scale wind farm begins at Smøla. Statkraft acquires shares in Agder Energi and takes 100 per cent control of TEV.

2002 Shareholding in Sydkraft is increased to 44.6 per cent. In Report no. 22 to the Storting, the government announces plans to convert Statkraft into a limited company. The Norwegian Competition Authority orders Statkraft to sell off E-CO Vannkraft, HEAS and TEV or equivalent assets. Statkraft Norfund Power Invest (SN Power) and Småkraft AS are established.

2004 Statkraft’s business is transferred from the state-owned enterprise Statkraft SF to the limited company Statkraft AS, and the group Statkraft AS is created.

2005 Statkraft signs a cooperation agreement with German energy company Mark-E for the construction of a 400 MW gas-fired power plant in Herdecke. Statkraft decides to build and operate a modern 800 MW gas-fired power plant in Knapsack. Statkraft acquires 24 hydropower plants with a total annual generation of 1.3 TWh in Sweden and Finland from E.ON Sverige.

2006 Statkraft opens its London office and gains an interest in nine wind farm projects in the UK. 

2007Statkraft establishes offices in Belgrade, Bucharest and Tirane.

2008 Statkraft acquires Rheidol Hydropower plant under a deal with E.ON that also includes 63 power and district heating plants in Sweden, Germany and the United Kingdom. The agreement makes Statkraft the fourth-largest power generator in Sweden, doubled the Group’s production capacity in Germany and establishes a strong presence in the United Kingdom.

2009 Statkraft completes construction of the Alltwalis Wind Farm in Carmarthenshire.

2010 Christian Rynning-Tønnesen becomes President and CEO. Cakit, the Group's first hydropower plant in Turkey, came online in June.

The Crown Estate announces that Forewind – a consortium of four leading energy companies including Statkraft - has been awarded development rights for what could be the largest offshore wind farm in the world, Dogger Bank off the coast of Yorkshire.

2011 Twelve new, long-term industrial contracts established with major players in power-intensive industry

Statkraft completes the construction of a wind farm in Sweden and starts the construction of two new wind farms in Sweden and Baillie Wind Farm in Scotland.

2012 Construction finishes at Sheringham Shoal off the coast of Norfolk, the third largest offshore wind farm in the world at the time. Its capacity can supply energy to 220 000 British homes. Statkraft and Statoil form the joint venture Dudgeon Offshore Wind Limited to acquire the Dudgeon offshore wind farm off the coast of Norfolk.

2013 Statkraft and Norfund sign an agreement expressing their intention to restructure and prolong their cooperation within renewable energy. The aim is to create a leading international hydropower cluster, based on assets from Statkraft, SN Power and Agua Imara. The opening of Baillie wind farm in Scotland is celebrated with the local community through the ‘Turbine 10’, Britain’s first and only 10k race through a wind farm.

2014 The 29 turbine Berry Burn Wind Farm in the Scottish Highlands begins operation and planning consent is granted for Andershaw wind farm. Masdar acquires a 35% stake in Dudgeon offshore wind farm, and the Green Investment Bank makes a £240 million investment in Sheringham Shoal. Gingko Tree purchase 49% of Statkraft’s onshore wind portfolio.

2015 Statkraft celebrates 120 years of generating Pure Energy. Early in the year Statkraft acquired 50 % of the offshore wind project Triton Knoll in the UK from RWE Innogy.

2017 Statkraft opens Andershaw Wind Farm early in the year, and later exits the offshore wind industry by divesting all projects and assets.