Statkraft Doubles Down on South American Renewable Energy, Despite Local Resistance
OSLO, norway – Statkraft, the Norwegian state-owned energy company, is intensifying its focus on solar, wind, adn hydropower investments in South America, particularly in Brazil, Chile, and peru, following a year of over 15 billion NOK in revenue from asset sales. CEO Birgitte Vartdal stated the projects align with global goals to triple renewable energy capacity by 2030 and transition away from fossil fuels. The company has streamlined its portfolio, exiting investments in hydrogen, batteries, district heating, and biofuel, and withdrawing from markets like India and Nepal to concentrate on its core strengths.
StatkraftS renewed strategy comes as the company navigates local opposition to its projects. A major hydroelectric project in Chile faces resistance from indigenous groups who claim construction occurred illegally on sacred land.In Brazil, one of three new solar power projects has encountered opposition from a competitor, though Vartdal affirms all necessary permits have been secured.
To mitigate environmental impact, Statkraft is prioritizing coastal locations in Brazil, avoiding rainforest areas and requiring reforestation efforts to offset any forest clearing for solar plant construction.”we have chosen to have our activity in areas where there is less impact on indigenous people.No indigenous groups have been identified around these new projects,” Vartdal said.
