Statkraft's core activity is energy generation and it is specialised in hydropower. It is Europe’s largest generator of renewable energy. The group produces energy from hydro, wind, solar, biomass, gas, and supplies district heating. In 2021 the consolidated installed power generation capacity was 18.7 GW of which 66% is located in Norway, 10% in other Nordic countries, 19% in other European countries and 5% in the rest of the world. The total power generation in 2021 was 69.9 TWh with a renewable percentage of 96% (of which 90% hydro and 5% wind and 1% solar and biomass). Statkraft has a commitment to direct all investments for power capacity growth to renewable energy. Statkraft has 4,800 employees in 18 countries and is wholly owned by the Norwegian state.
Statkraft is a leading renewable energy generator, and is specialized in hydropower. This green bond contributes to Statkraft's ambitions to remain Europe's largest renewable energy generator and to be among the top three most climate-friendly European-based power generators going forward to 2025. To realise these ambitions, Statkraft targets to add additional development of 9 GW of renewable energy capacity before 2025. The green bond mostly finances the construction and reconstruction of new wind, solar and hydropower plants.