Definition
Statkraft SF is a state-owned Norwegian energy company and Europe's largest producer of renewable energyEnergy from sources that renew naturally - wind, solar, hydropower and bioenergy - as opposed to fossil fuels.. The company generates power from hydropowerElectricity produced from the potential energy of falling water - Norway's dominant energy source (~90% of production) with a unique ability to ramp up and down quickly., wind power, solar energyElectrical energy produced from sunlight via solar panels (PV installations). and gas power in over 20 countries, with Norway as its clear centre of gravity. Statkraft owns and operates a large number of hydropower plants in Norway and is one of the most important actors in the Nordic power market via Nord PoolNordic electricity exchange where power is traded in the wholesale market - the basis for electricity prices in Norway and the Nordic region.. Unlike grid companies that operate as regulated monopolies, Statkraft competes as a power producerCompany or entity that generates electricity from energy sources such as hydropower, wind or solar. in the open market - and is therefore a BRPBalance Responsible Party - actor responsible for balancing production and consumption in its portfolio against the system operator. (Balance Responsible Party) that must balance its portfolio. Statkraft is not the same as StatnettNorway's system operator for the transmission grid - owns and operates the high-voltage network and operates Elhub.: Statnett owns the transmission grid and operates ElhubNational hub for metering data and market processes in the Norwegian electricity market., whilst Statkraft is a generation actor. For technology suppliers, Statkraft is a key actor to be aware of, as they drive digitalisation initiatives across generation, trading and grid operations.