Statkraft has announced it will stop pursuing new green hydrogen development projects due to growing market uncertainty, marking a strategic shift in its approach to hydrogen investments.
The company has built significant expertise and advanced a portfolio of green hydrogen projects across key European markets, including Norway, Sweden, the UK, Germany, the Netherlands, and Italy. While new development will cease, Statkraft plans to continue maturing selected projects within its existing portfolio.
Several of these projects have secured external funding opportunities. Statkraft is actively engaging with authorities to ensure these initiatives can move forward with the support of potential investors. The decision reflects the company’s intent to take a more measured approach to hydrogen development, focusing on securing long-term project value amid shifting market conditions.
“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,” said Birgitte Ringstad Vartdal, President and CEO of Statkraft.
