Statkraft Outlines $8bn Infrastructure Renewal Plan for Norway
Statkraft has announced plans to invest around $8bn (NOK 80 billion) over the next decade in Norwegian energy infrastructure, with a strong focus on upgrading and maintaining its hydropower assets.
The investment programme, presented at the Statkraft Conference 2026, represents a significant increase from previous estimates and is driven by a combination of a larger project pipeline, inflation, and a longer planning horizon.
Around half of the total funding will be allocated to major maintenance of existing hydropower infrastructure, including dams, tunnels, and generation equipment. The remainder will be used for upgrades, modernisation, and capacity expansions across the company’s Norwegian portfolio.
Key projects include the refurbishment of ageing hydropower stations such as Nore, Mår, and Aura, which require significant technical upgrades to extend operational lifetime and improve performance. The programme also includes dam reinforcements to meet stricter safety standards and adapt to increasing climate variability, as well as renewal of critical components such as turbines, control systems, and waterway tunnels.
Statkraft also plans to expand selected facilities, including increasing capacity at the Alta hydropower plant from two to three generating units to improve utilisation of seasonal water flows.
Beyond hydropower infrastructure, the company is also investing in wind power projects, including the repowering of older wind farms to increase output and improve efficiency. These projects depend on regulatory approvals from authorities such as the Norwegian Water Resources and Energy Directorate.
Statkraft said the investment programme is intended to strengthen long-term energy security, improve flexibility in the power system, and ensure continued reliable electricity production from existing assets while enabling incremental growth in renewable generation capacity.
Final investment decisions will depend on licensing, profitability assessments, and future electricity demand.
Source: statkraft.com
