The Norwegian state-owned energy company Statkraft is investing in India. In cooperation with Indian authorities, the Norwegian hydropower expert is driving Indian energy production in a renewable direction.
Two weeks ago, it was announced that Statkraft is expanding its investments in India, where demand for electricity is expanding. By acquiring the 100-megawatt Tidong hydropower project in Himachal Pradesh, the Norwegian energy company is expanding its expert knowledge to include the Indian energy sector.
With the Indian electricity demand rising around 6.5% annually, it is one of the fastest growing energy markets in the world. By its ownership in three hydropower-plants in Himachal Pradesh: Malana, Allain Duhangan and now also the Tidong power plant, Statkraft has great experience with hydropower in India. In addition to this, Statkraft is also expanding its activities to include solar power, setting an even increased focus on Indian renewable energy.
The Embassy hosted an event for Statkraft recently, where the Ambassador shared his perspectives on politics and economy, while the National Investment and Infrastructure Fund (NIIF) provided an overview of the energy market and government focus. Other Norwegian companies such as Yara, Kongsberg Digital and Aker Solutions also contributed with insights and ways to do business in India. To formalise the recent Statkraft acquisitions, the Ambassador visited the Tidong hydropower project alongside representatives from Statkraft India.
This is a great opportunity both for Norway and India, and we hope that the new cooperation will bear fruits in the years to come.
Statkraft representatives & the Ambassador in Himachal Pradesh
Norwegian Ministry of Foreign Affairs