The Norwegian state-owned power company Statkraft has released its 2024 results, posting a net profit of NOK7bn (€594m), a 73% drop compared to 2023. The group’s net operating revenue decreased by 18% to NOK53.7bn (€4.6bn) in 2024.
Statkraft generated 66.3 TWh of power in 2024, a 7% increase compared to the previous year, thanks to new wind power assets in Brazil and Spain and higher generation from the gas-fired plants in Germany. 54.64 TWh of the generated electricity came from hydropower (stable), followed by wind power with 8.8 TWh (+93%) and gas-fired power with 2.4 TWh (+23%). The group produced 46.15 TWh in Norway, 6.5 TWh in Sweden, 5.2 TWh in the rest of Europe and 8.4 TWh in the rest of the world. In addition, Statkraft delivered 1.2 TWh district heating in 2024 (stable). The average Nordic system price was €36/MWh in 2024, a 37% decrease compared to 2023.
The company reached 22.3 GW of installed capacity in 2024, a 10% increase compared to 2023. 14.2 GW came from hydropower, 4.2 GW from wind and 2.5 GW from gas-fired power plants. The group has 12.1 GW in Norway, 1.8 GW in Sweden, 4.7 GW in the rest of Europe and 2.7 GW in the rest of the world. At the end of 2024, Statkraft had 2.2 GW under construction (of which over 1 GW was solar), mainly outside of the Nordic countries.