Statkraft invests heavily in Scotland’s renewable energy future
Since opening its first UK office in 2006, Statkraft has invested £ 1.4 billion in UK renewable energy infrastructure, helping the country meet its net zero targets.
More than £ 200million has been invested in renewable energy projects in Scotland, where the Norwegian state-owned company has also opened an office in Glasgow.
Founded over a hundred years ago, the company is committed to making clean energy possible, long before climate change was a climate crisis. As the largest producer of renewable energy in Europe, it continues to lead the transition to renewable energy, investing 100% of its growth in renewable energy.
Each year, it publishes its Low Emissions Scenario Report, an analysis of developments in global energy markets. The analysis serves as the basis for future Statkraft investments. The recently released Sixth Annual Report highlights the need for more action if we are to meet the goal of increasing the global temperature by 1.5 degrees, asserting that if renewables are to remain at the core of this goal, more must be done to advance clean hydrogen.
In the UK, Statkraft views large-scale wind power expansion as the most efficient technology to enable the country to meet its climate goals and is at the forefront of onshore wind development at across Great Britain.
Statkraft has built and operates four wind farms, two of which are under construction with a total installed capacity of 260 MW, and an additional 49 MW at its hydropower plant in Wales.
In 2020, the national grid operator awarded it four grid stability projects – two in Keith and two in Liverpool – to help it achieve its ambition of providing a zero carbon grid by 2025. One year later , Sea, Statkraft’s electric vehicle charging network program in the UK.
The company’s contribution to the production of renewable energy and to the stability of its supply is expected to grow exponentially. It has 14 projects in the development stage, across Scotland and the rest of the UK.
Construction of the Keith Greener Grid Park is nearing completion, an innovative project using two rotary stabilizers manufactured by GE Power Conversion to increase the amount of renewable energy that can be accepted for transmission and distribution on the national grid.
This is one of three ongoing projects in Moray. A request is currently being made to the Scottish government for an extension of the Berry Burn wind farm. Operational since 2014, Berry Burn’s 29 turbines supply the equivalent of 48,000 homes with renewable energy. The addition of nine modern wind turbines installed would power the equivalent of 35,500 additional homes.
Plans are also underway for the Craig Watch wind farm, about 5 miles southeast of Dufftown. If approved, work to install the wind farm could begin in 2024. Other Scottish projects under development range from the Energy Isles wind farm in Shetlands to Knockcronal in south Ayrshire.
The benefits of the various projects go well beyond the production of renewable energy. Much of Statkraft’s history lies in its commitment to working locally and being a good neighbor, creating community bond groups, providing local investment opportunities and generating significant economic and community benefits. .
Local businesses are encouraged to register to become a supplier for each project. Around 80 companies have registered for the chance to participate in the £ 20million Keith Greener Grid park. The companies that benefit from it range from those involved in the construction process to hotels, restaurants and bed and breakfasts.
Community Benefits Funds are set up alongside each new wind project and over the past 10 years Statkraft has distributed over £ 3.5million to communities around its projects.
Berry Burn Wind Farm, for example, provides a community benefits fund worth over £ 190,000 per year. Since the inception of the fund, Statkraft has invested over £ 1.1million in the local community across education, environment, sport and culture.