Statkraft has decided to stop the new development of green H₂ due to increased uncertainty in the market. Parts of the portfolio will be matured before seeking investors to realize the projects.

Statkraft has developed expertise and created value in green H₂ projects in line with our strategy across various European markets, including Norway, Sweden, the UK, Germany, the Netherlands and Italy.

The company has decided to halt the new development of H₂, though parts of the portfolio will be further matured before seeking investors to realize the projects. Several projects have received substantial external funding opportunities, and the company is working with authorities to ensure their progression.

“After reducing the ambition level on green H₂ development last year, we are experiencing even more uncertainty in the market. Therefore, Statkraft has decided to stop new development of green H₂ and going forward we will prioritize growth opportunities in other technologies, and market operations,” said Birgitte Ringstad Vartdal, President and CEO of Statkraft.

Statkraft continues to believe in the long-term future of green H₂ and its importance in reducing emissions from carbon-intensive industries. Market activities related to H₂ will continue to be part of Statkraft’s portfolio.