The Norwegian state-owned power company Statkraft has released its 2023 results, posting a net profit of NOK26.1bn (€2.3bn), a 9% decrease compared to 2022. The group’s net operating revenue amounted to NOK65.3bn (€5.7bn) in 2023 (-13%).
Statkraft generated 61.9 TWh of power in 2023, a 2.8% increase compared to the previous year. 55 TWh (89%) of the generated electricity came from hydropower (+2%), followed by wind power with 4.5 TWh (+5%) and gas-fired power with 2 TWh (+18%). The group produced 46.7 TWh in Norway, 6.5 TWh in Sweden, 4.1 TWh in the rest of Europe and 4.6 TWh in the rest of the world. In addition, Statkraft delivered 1.3 TWh district heating in 2023, a increase of 18% compared to 2022. In 2023, Statkraft sold 42.7 TWh of power in net physical spot sales and 14.8 TWh under long-term commercial contracts. The average Nordic system price was €57/MWh, an 58% decrease compared to the record-high of 2022.
The company reached 19.4 GW of installed capacity in 2023, a 2% increase compared to 2022. 14.6 GW came from hydropower, 2.5 GW from gas-fired power and 2.2 GW from wind power. The group has 12.1 GW in Norway, 1.8 GW in Sweden, 4 GW in the rest of Europe and 1.5 GW in the rest of the world. Statkraft has a growth target of 9 GW by 2025. The group plans to develop between 2,500 MW and 3,000 MW of capacity annually by 2025, increasing to 4,000 MW every year by 2030. At the end of 2023, Statkraft had 2.1 GW under construction (of which over 1 GW was solar and 618 MW wind), mainly outside Europe.