Statkraft has decided to stop new development of green hydrogen owing to increased uncertainty in the market. The company has developed expertise and created value in green hydrogen projects in line with its strategy across various European markets, including Norway, Sweden, the UK, Germany, the Netherlands and Italy. But the company has decided to halt new development of hydrogen, though some parts of its portfolio will be further matured before seeking investors to realise the projects. Several have received substantial external funding opportunities, and the company is working with authorities to ensure their progression.
“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.
The company affirms that it 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.
