According to the company, the decline is due to low electricity prices in Northern Norway, lower earnings from trading and negative hedging effects. During the quarter, the company signed agreements to sell assets with a total value of approximately 13.5 billion Norwegian kroner, as part of the new, focused strategy and to free up capital for continued growth.
The sales include, among other things, district heating activities, transmission lines in Peru and renewable energy projects in Canada, Croatia, India, Nepal and the Netherlands. The goal is to reduce complexity, costs and free up capital for investments in prioritized markets and technologies.
The company said in a press release.
- I am satisfied with the progress we have achieved in the third quarter. We have sold a portfolio of companies, our skilled employees are getting new owners, and the sales contribute to reducing complexity, costs and freeing up capital for continued profitable growth within prioritized technologies and markets, says Statkraft's CEO Birgitte Ringstad Vartdal.
In the future, Statkraft plans to invest between 16 and 20 billion DKK annually in, among other things, solar and wind energy, battery storage and grid services in Europe and South America. An increasing part of the investments will also go to modernizing hydropower and new onshore wind projects in Norway and Sweden.
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