Norwegian state-held power utility Statkraft's power generation declined by 1.4% in 2018 to 61.7 TWh, as gas-fired generation fell by 32% to 1.5 TWh. Hydro and wind power generation were stable at 57 TWh and 2.7 TWh, respectively. Most of the electricity generation is based in Nordic countries, since 79% (48.6 TWh, as in 2017) were produced in Norway and 9.7% (6 TWh, -9.1%) in Sweden. Power generation in the rest of Europe contracted by 12.5% (2.8 TWh) in 2018. In 2018, the group sold 48.9 TWh in Europe (-3%) and 4.9 TWh (+8.9%) in the rest of the world.
Statkraft acquired many assets throughout 2018, including in particular four wind power project companies, three of which located in the United Kingdom (UK) and one in Ireland (Element Power Ireland). The transaction comprised wind park projects currently under development in Ireland (1,300 MW) and the UK (250 MW) and fits into Statkraft's plans to become a significant player in the Irish energy market. The company also acquired eight operational hydropower plants in Brazil with a total installed capacity of 132 MW, scaling up its installed capacity in the country to a total of 450 MW.
At the end of 2018, the company also unveiled plans to invest approximately NOK10bn/year (€1bn/year) over the 2019-2025 period in renewable energies in order to reach a capacity of 6,000 MW in onshore wind and 2,000 MW in solar power. Besides, NOK1.2bn (€130m) will be dedicated to the improvement and modernization of its hydropower facilities. The majority of Statkraft's growth is expected in Europe (42%) although other markets where Statkraft is already present (such as South America and India) will also add substantial grow (32% of investments).