Statkraft is expanding its renewable energy portfolio in Peru with the construction of the 72 MW Emma wind project in Piura. This marks Statkraft’s first investment in wind power in the country and strengthens its position as a diversified renewable energy producer in South America. The project is expected to generate 325 GWh of energy annually, achieving capacity factors above 50 percent, which places it among high-performing wind projects globally.

Located in northern Peru, the Emma project benefits from exceptionally strong and stable wind conditions. By integrating wind power into its established hydropower portfolio and growing solar pipeline, Statkraft aims to provide cost-efficient and resilient energy solutions to key sectors such as mining and agribusiness. The company currently operates the Lupi solar project in Moquegua as part of its Peruvian assets.

"The Emma wind project has a great potential, and it will create long term financial value for Statkraft. It is an important step in Statkraft’s international growth strategy and in our ambition to build scale in selected markets," says Fernando de Lapuerta, Executive Vice President International at Statkraft. He emphasized that Peru offers strong renewable resources and growing demand for reliable, competitive, and clean energy.

The addition of wind technology aligns with Statkraft’s strategy to combine hydropower, solar, and wind. This mix is designed to deliver clean, competitive, and reliable energy to customers while supporting a more diversified and sustainable energy mix in Peru. "By adding wind to our hydropower base, we strengthen a portfolio of complementary technologies. This translates into tangible value for our customers," says Enzo Contreras, Country Manager of Statkraft Peru.

During the construction phase, the Emma project will prioritize local employment and suppliers where possible to create economic opportunities in the region. The development will adhere to Statkraft’s sustainability and human rights standards, ensuring responsible growth in its areas of influence.

Statkraft has submitted a licence application to the Norwegian Water Resources and Energy Directorate (NVE) to construct a new Mår power plant in Rjukan, Tinn municipality, Norway. The proposed facility aims to increase power generation by just over 13 percent and represents Statkraft’s largest project investment in Norway in the coming years. This initiative is part of a broader NOK 70 billion plan to upgrade and further develop Norwegian hydropower infrastructure.

The existing Mår power plant, commissioned in 1948, is nearing the end of its operational lifetime. Statkraft has determined that optimal resource utilisation requires building a new plant approximately 1000 metres further into the mountain. This relocation will shift the intake to the Kalhovd reservoir and the outlet to Tinnsjøen, increasing the height of fall. The new configuration is designed to enable faster electricity production during periods of high demand, thereby helping to reduce price peaks.

Pål Eitrheim, Executive Vice President for the Nordics at Statkraft, highlighted the plant's historical significance and the necessity of the upgrade. "Since the 1940s, Mår hydropower plant has supplied electricity to households and businesses... Now, it must be upgraded," Eitrheim stated. He emphasised the company's responsibility to maximise the value of regulated water resources by increasing both production and capacity.

The project entails significant construction activities, including the excavation of approximately 40 kilometres of new tunnels. Statkraft has initiated dialogue with Tinn municipality and Telemark county to manage the large volumes of excavated rock, exploring opportunities to use these materials for beneficial community purposes. While the new plant will not involve expanding reservoirs or diverting water from new rivers, it will impact the local environment. To mitigate effects on wildlife, Statkraft proposes constructing two new wild reindeer crossings to re-establish historic migration routes.

Financially, the investment framework for the new power plant is NOK 9 billion, with a potential additional NOK 5 billion allocated for a future pumped storage facility. This project aligns with Statkraft's announcement in May to invest NOK 80 billion in Norway over the next decade. A final investment decision will depend on the project’s profitability and the granting of a licence by the authorities.

Project Specifications

The licence application also includes an option to expand capacity to 1040 MW and install 1040 MW of pumping capacity in a later phase. If a licence is awarded, Statkraft will decide whether to refurbish the existing plant or construct a new one based on detailed planning and economic viability.