Statkraft 120 år

Ladies and Gentlemen,

Friends and employees of Statkraft. 

It is a pleasure to be invited to celebrate one of the most influential companies in Norway. And one of the companies with the longest history.                     

Statkraft is part of our national heritage and owned 100 percent by the Norwegian people. My congratulations are on behalf of all of us. 

It makes me humble to think back on the hydropower pioneers. The beginning of what was a main catalyst for Norway's development from a poor agrarian country to a wealthy, industrialized nation.  

During the last 120 years, Norway has become one of few countries who almost exclusively supply domestic electricity from renewable energy sources. 

Statkraft is today Europe's leading producer of hydropower. You have built a strong brand nationally and globally. A result of visionary leadership over decades. 

We are hopeful and confident that you will use your own – and Norway's advantage – to take part in the future of renewable energy in the world. 

Because renewable energy is a necessary solution to one of the greatest challenges of our time: Man-made global warming.  

We need a green shift in the world economy to avoid catastrophic climate change. In other words, we must combine economic growth with less carbon emissions. 

Clean renewable energy must replace fossil fuels, in Norway and elsewhere. 

Statkraft's investments and market understanding fit perfectly in this picture. 

And let me be honest since we are among friends. 

I was surprised when I received the news last week that Statkraft had decided not to build – what in total would have been – the largest wind farm project in Norway.

At the same time, Statkraft is investing in renewable energy in Norway and in other countries. I hope that future development, both market-wise and technology-wise, will make it possible to invest in projects like the Fosen and Snillfjord. 

And I believe that it will. 

Because falling costs means that wind and solar power is profitable without subsidies in more and more markets.

Because we see a rapid transition to increased use of renewable energy. Costs are decreasing and new markets emerges. Technology will continue to develop. 

With the rapid expansion of intermittent energy sources such as wind and solar power in Europe, the energy markets are changing.

Statkraft's role is evident. Your many hydro reservoirs can be put into use when the markets needs it. That flexibility is a great advantage. 

Developing more renewable energy is important to reduce emissions of CO2. At the same time, all energy production have some negative effects on nature and biodiversity. It is important to keep these negative impacts as low as possible. 

Which I am confident you will work determined to achieve. 

Dear friends, 

Today we celebrate an engine in Norwegian industrial development. 

This is a great evening for celebrating. 

I know you are eager to take part in the green shift that we see is coming, and that Statkraft will continue to grow for another 120 years. 

I wish you all a terrific celebration! 

Thank you for your attention!