The Norwegian state-owned power company Statkraft has released its 2022 results, posting a net profit of NOK28.6bn, a 78% increase compared to 2021. The group’s net operating revenues rose to record-high NOK73.9bn in 2022 (+79%).
Statkraft generated 60.2 TWh of power in 2022, a 14% decrease compared to the previous year. 53.9 TWh of the generated electricity came from hydropower (-14%), followed by wind power with 4.3 TWh (+10%) and gas-fired power with 1.7 TWh (-37%). The group produced 46 TWh in Norway, 6.5 TWh in Sweden, 3.4 TWh in the rest of Europe and 4.3 TWh in the rest of the world. In addition, Statkraft delivered 1.1 TWh district heating, a decrease of 7% compared to 2021. In 2022, Statkraft sold 42.5 TWh of power in net physical spot sales and 13.2 TWh under long-term commercial contracts. The average Nordic system price was €193/MWh, an increase of €118/MWh year-on-year.
The company reached 19.1 GW of installed capacity in 2022, a 2% increase compared to 2021. 14.4 GW came from hydropower, 2.5 GW from gas-fired power and 2.1 GW from wind power. The group has 12.6 GW in Norway, 1.9 GW in Sweden, 3.6 GW in the rest of Europe and 1 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.