Hello Patrick! Introduce us to Statkraft, and what are your focus areas?

- Statkraft formed ~130 years ago originally as a Norwegian state-owned hydropower company, providing necessary electricity to industry in Norway. Statkraft has since grown globally as a leader in renewable energy with operations spanning Europe, South America, Asia, and North America. Within the US, we are active in various renewable energy and carbon markets, working closely with developers to help them de-risk the commodity exposure from their projects.  Given Statkraft’s extensive experience with renewable energy generation, we offer a variety of contracting structures to address hedging specific risk concerns of our developer partners.  With the credit backing of our A / A- rated parent, an offtake agreement with Statkraft is looked upon favorably by financers and can help secure investment in a project, whether it be a new project or reinvestment in an existing project.

What motivated Statkraft to participate as partner in the Bifrost Summit?

- Innovation Norway has been a longstanding partner of Statkraft US members both in the SF/Bay Area as well as the Northeast. When they brought the Bifrost Summit to our attention, we thought it would be a great opportunity to connect and collaborate with other leaders in addressing environmental topics.

What specific areas of innovation and technological breakthroughs are Statkraft exploring?

- Statkraft US currently focuses on renewable energy and carbon offsetting projects in the US. We closely monitor state and federal regulation to be informed on future investment in clean energy. Our activities and interests span various technology types including solar, wind, hydro, grid-scale batteries, hydrogen, and more.  We are excited to see how newer technology types will commercialize and to explore new ways in which Statkraft can be helpful in growing the clean energy sector.

What emerging trends does Statkraft see that are on the rise?

- Both on an organized and individual level, we are seeing clearer and more consistent commitment to a cleaner society.  From global regulatory bodies to voluntary corporate behavior driven by consumer sentiment, we are seeing stronger signals in support of transitioning to more pollution-abating operations across industries including energy, transportation, manufacturing, agriculture, and more.  Examples like the Inflation Reduction Act and an increasing number of US states strengthening, enacting, and discussing Renewable Portfolio Standards, Cap-and-trade, Low Carbon Fuel Standards, and other programs are helping push conversation into action. While there are ongoing important discussions regarding how we transition safely and responsibly, the commitment to the transition is increasingly important to the global population. We are eager to see the growth in deployment of existing solutions as well as newly discovered technologies and processes over time.

What are you looking forward the most at Bifrost Summit?

- We look forward to learning from the talented leaders in attendance and building relationships and partnerships that can help achieve our widespread environmental goals!