Starkraft wants to have a portfolio of over 1 GW of renewable energy capacity in Poland by 2030

Statkraft – a Norwegian company that is the largest producer of renewable energy in Europe – intends to develop projects in the solar and wind energy segments in Poland, along with energy storage facilities, the company announced. Ultimately, it wants to build over 1 GW of the RES portfolio in Poland by 2030.

The ongoing process of energy transformation in Europe and the growing investment potential of the local market contributed to the decision to increase Statkraft’s involvement in the region. In Poland, the company will develop its own generation assets in the area of RES.

“One hundred percent of Statkraft’s new investments relate to renewable energy. Our global goal, which we want to achieve by 2025, is to commission the resources corresponding to one new RES installation every nine days. In the coming years, we will accelerate the development of solar energy, onshore wind energy and energy storage, striving to achieve an annual growth rate ensuring 4 GW of RES capacity per year by 2030. Poland will have a significant share in meeting these goals,” said Evert Vlaswinkel, senior vice president of the region at Statkraft quoted in the communiqué.

In Poland, Statkraft, as a developer, wants to participate in three segments of the domestic RES market – solar energy, wind energy and energy storage. The company’s strategic goal is to achieve over 1 GW of high-quality project portfolio by 2030. In the company’s opinion, the achievement of the above objective will be influenced by further development of the RES market, in particular in terms of grid infrastructure and regulations.

“The pace of development of green energy sources in Poland is impressive, especially in the field of solar energy. This definitely distinguishes our country from Europe. At the same time, we still see untapped potential and the need for large-scale investments, both in the case of solar and wind energy. We also see an urgent need to strengthen the national power grid and regulatory changes to enable effective use of its existing capacity. As a state-owned company, we set high standards of sustainability, ethics and safety for our projects. We have the knowledge and competences that allow us to take up this challenge responsibly,” added Michał Smyk, Poland’s country manager at Stakraft.

Statkraft will develop a portfolio of RES projects in Poland based on a business model that includes three paths of operation. The first is M&A transactions, the second is establishing partnerships with developers in the field of solar and wind energy, looking for opportunities to share business risk, and the third pillar is investments in greenfield projects.

“The renewable energy market in Poland, despite its relatively short existence, is mature and competitive. We are aware that winning a place on it will not be easy, hence the comprehensive business model based on various activities that we will carry out,” emphasized Smyk.

State-owned by the Norwegian state, Statkraft is the world’s leading hydropower company and Europe’s largest renewable energy producer. Statkraft has been operating in Poland since 2018 in the renewable energy trading segment. The company offers physical and financial PPAs, as well as develops wind farms, solar farms and energy storage projects in Europe and worldwide.

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