Statkraft, the largest European producer of renewable energy, has so far been mostly inolved in developing hydropower projects, but the company may be taking a turn in their renewable energy strategy. According to the company's vice president of innovation and growth, Bjoern Holsen who gave an interview in Oslo, hydropower will remain an important part in Statkraft's renewable energy portfolio.

Statkraft is not new to wind and solar energy development. The company has wind energy facilities in operation, and is building its first solar power plant in Italy. It will also soon open the world's first osmotic power station oustide of Oslo.

A major wind energy development by Statkraft is the Sheringham Shoal wind farm off the UK coast, representing a USD 10 billion investment by the company, in cooperation with Norwegian StatoilHydro. The 315 MW wind farm will be half-owned by Statkraft. The company is also seeking new investment and development opportunities in the wind energy sector, and is actively bidding licensing rounds, buying concessions and developing sites "from scratch", according to Holsen. Most offshore projects represent huge investments, so the company is entering into cooperation agreements with other renewable energy companies. Statkraft plans to concentrate its wind energy efforts in the North Sea, in Scandinavia, Germany and Britain, but also in onshore installations.

Along with wind energy, Statkraft is venturing into tidal power "waters". The company is actively seeking partners for a tidal power project. Currently, the company is working on tidal power projects in the UK and Ireland, and is anticipating it will make an investment decision on possible commercial development of the technology in late 2011.

[via: Bloomberg]