Statkraft Stops New Development of Green Hydrogen Projects
Published by Todd Bush on May 8, 2025
Statkraft has decided to stop new development of green hydrogen due to increased uncertainty in the market. Parts of the portfolio will be matured before seeking investors to realise the projects.
Statkraft has developed expertise and created value in green hydrogen projects in line with our strategy across various European markets, including Norway, Sweden, the UK, Germany, the Netherlands and Italy.
The company has decided to halt new development of hydrogen, though parts of the portfolio will be further matured before seeking investors to realise the projects. Several projects have received substantial external funding opportunities, and the company is working with authorities to ensure their progression.
Birgitte Ringstad Vartdal, President and CEO of Statkraft, said, "After reducing the ambition level on green hydrogen development last year, we are experiencing even more uncertainty in the market. Therefore, Statkraft has decided to stop new development of green hydrogen and going forward we will prioritise growth opportunities in other technologies, and market operations."
Statkraft continues to believe in the long-term future of green hydrogen and its importance in reducing emissions from carbon-intensive industries. Market activities related to hydrogen will continue to be part of Statkraft’s portfolio.
>> In Other News: Exxon Agrees to Supply Japan's Marubeni With Low-Carbon Ammonia
About Statkraft
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has around 7,000 employees in more than 20 countries.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
Shell Will Help Delta Reach 23 Million SAF Gallons
Inside This Issue ✈️ Delta and Shell Ink 5-Year SAF Deal Across 5 US Hubs 🌲 Plumas County Receives Top Bioenergy Rating, Opening Door for Biomass Investment 📜 Rep. Kiley Introduces Bill to Incenti...
-
Why Bloom Energy Just Landed $1.7B Bet
Inside This Issue 🔋 Why $1.7B Is Betting on Fuel Cells Over Nuclear for AI 🍁 Air Canada and Airbus Launch Joint Initiative to Scale Domestic Canadian SAF and Help Reduce the Life-Cycle Emissions o...
-
Oil Sands Alliance Faces $43.7 Billion Price Tag
Inside This Issue 🍁 Alberta Cuts Carbon Costs to Fast-Track Pathways CCS 🏛️ EU Unveils Sweeping ETS Overhaul With €100 Billion Industrial Decarbonisation Bank 🌱 Consultation: Major Revision to Bio...
Company Announcements
-
Acquisition of additional permits covering 660,263 acres or 2,672 sq. km, including the Aurora Project adjoining Lawson and striking southeast toward Moose Jaw, enhances Natural Hydrogen commercial...
-
Climeworks Solutions Launches Compliance-Ready Carbon Removal Offering As Policy Advances
Expanded offering helps organizations source carbon removal portfolios aligned with evolving compliance frameworks including CORSIA, Article 6.2 mechanisms, and the EU Carbon Removal and Carbon Far...
-
Three QIMC field crews now active on the ground conducting soil-gas sampling to densify hydrogen anomalies and ground magnetic surveying along the Cobequid-Chedabucto Fault Zone QIMC's record DDH-...
-
Sustainable aviation fuel (SAF) could become a major driver of Canada's industrial and economic growth, while contributing to the global aerospace industry's aspirational goal to achieve 'net-zero ...