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Statkraft is betting big on wind and hydropower in Norway

After a long pause in the construction of new power in Norway, Statkraft is starting its biggest investment in wind and hydropower in decades. Can’t wait, says Høyre’s Nikolai Astrup

Since 2019, Statkraft has prioritized completely different countries than Norway, investing in new power. For four years, Norway’s largest power company has instead spent billions in other parts of Europe, South America and Asia.

Now the investment is to be made here in the country again. More than in decades.

Statkraft announces investments of between NOK 44 and 67 billion in upgrades to its Norwegian hydro and wind power facilities, as well as the construction of new onshore wind farms.

– Fantastic good news, says Energy Minister Terje Aasland (Ap). He has called for the construction of more power for a long time, but at the same time introduced both ground rent tax and high-price subsidies, which the industry believed prevented new investments in power.

During the autumn, the high-price contribution was removed and just before Christmas, a broad majority in the Storting entered into a settlement on the ground rent tax.

– The framework conditions are now in place. Now is the time to invest, says Aasland, who was enthusiastically involved in the launch of Statkraft’s plans for Norway on Monday.

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