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Statkraft CEO: Offshore wind starts new epoch for capacity and pumped hydro

Christian Rynning-Tønnesen forecasts more variable power prices following wind conditions, but is convinced that Norwegian hydroelectric will be able to supply the required flexibility.

Photo: Anders Lie Brenna

Statkraft Chief Executive Christian Rynning-Tønnesen, once a skeptic about the economic potential of pumped hydroelectric in Norway, now says he thinks large volumes of new wind energy coming from both large domestic and European build-out targets will lead to more power price variance and thereby increased profitability from flexible renewable electricity generation.

”We’re now entering an era when both capacity and pumped hydroelectric are more interesting. There’s also been theoretical potential for this in Norway, but it hasn’t always been profitable,” the CEO tells EnergyWatch.

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