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Statkraft has adjusted its investment plan to the increase of dividend by NOK 5 billion over the next three years, as decided in the Norwegian State budget process. The main changes are that Statkraft no longer will invest in new offshore wind projects and some international hydropower projects may be postponed.

Offshore wind power is capital intensive. The reduced financial terms from the owner entail that it is not possible for Statkraft to invest in new offshore wind projects, according toCEO Christian Rynning-Tønnesen. Statkraft will still participate in the development of the Triton Knoll project, but not invest further. For Dogger Bank the development of the projects will continue, but Statkraft cannot invest in these. The Dudgeon project is not affected by the decision, and will continue as planned. Statkraft will comply with all commitments and finance our 30% share. Sheringham Shoal is not affected by the decision. Statkraft’s future ownership strategy will be evaluated later.

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