Statkraft to stop development of new green hydrogen projects

Statkraft, Europe’s largest generator of renewable energy, has decided to stop developing new green hydrogen projects across all markets, but will continue to develop its existing mature portfolio of projects in the UK and seek investors to take them into construction and operation.

Statkraft has developed green hydrogen projects in line with our strategy across various European markets, including Norway, Sweden, the UK, Germany, the Netherlands and Italy. 

The company has decided to halt new development of green hydrogen projects, although parts of the global portfolio, including those in the UK, will be developed further before seeking investors to take them forward. Several of these projects, including one in Scotland, have received external funding, and others in the portfolio have been shortlisted for potential support from the UK Government.

Market activities related to hydrogen will continue to be part of Statkraft’s portfolio. 

Kevin O’Donovan, Statkraft’s UK Managing Director said: “Statkraft has decided to end development of new green hydrogen projects across our portfolio. We will continue to develop our existing UK hydrogen projects, a market where there has been significant support from the UK and Scottish Governments, and seek investors to take them forward into construction and operation.

“We are committed to continuing with the other technologies and services we are well known for, including our leading markets and optimisation activities.”