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is already being supplied to project beneficiaries. Once fully operational, the Subansiri Lower
hydroelectric plant is expected to generate around 7,422 million units annually, contributing to India’s renewable energy output. The project is also designed to provide flood moderation in the Brahmaputra Valley and support grid stability by balancing variable renewable sources such as solar and wind, as well as supplying peaking power. The government said the project has obtained required environmental and forest clearances. Riverbank protection and erosion control works have been carried out downstream, and dam safety measures are being implemented in line with the Dam Safety Act, 2021 under the oversight of the National Dam Safety Authority. NHPC reported that around 7000 local
workers have been employed during construction. The company is also implementing corporate social responsibility programmes covering education, healthcare, sanitation, skill development and rural development. Livelihood initiatives targeting about 5,000 women have been introduced, alongside infrastructure improvements including roads and bridges.
Nordics
Statkraft posts record generation on back of strong hydropower output Strong hydropower output in the Nordic region helped Statkraft achieve its highest-ever annual electricity generation in 2025, as the company reported robust fourth-quarter operational performance and record overall production. Europe’s largest renewable power producer generated 72.1 TWh of electricity in 2025, surpassing 70 TWh for the first time in the company’s history. Hydropower remained the dominant source of generation, with 51.2 TWh produced in Norway alone. Fourth-quarter generation reached 19.4 TWh, the highest level Statkraft has recorded for a fourth quarter, reflecting strong hydropower availability in the Nordic region and improved power prices.
“Statkraft delivered strong underlying results in the fourth quarter, supported by higher prices, high production, and solid performance in the Nordics,” said Birgitte Ringstad Vartdal, President and CEO of Statkraft. Hydropower continued to underpin Statkraft’s operational performance during the year, particularly in Norway and the wider Nordic market, where high reservoir levels and favourable hydrological conditions supported strong production levels. The Nordic segment delivered the strongest
results in the fourth quarter, benefiting from higher realised power prices and strong hydropower generation. Hydropower’s flexibility also played a key role in balancing the regional power system during periods of fluctuating
demand and renewable output. Higher production also contributed to increased taxation. Statkraft reported that elevated tax costs during the year were partly due to Norway’s resource rent tax on hydropower, which rises with production and profitability. Statkraft reported underlying EBITDA of NOK 8.3bn in the fourth quarter, up from NOK 7.1bn in the same period of 2024. For the full year, underlying EBITDA reached NOK 26.8bn. However, the company reported a net loss of NOK 0.4bn for 2025, compared with a profit of NOK 7.0bn the previous year. The loss reflects lower power prices earlier in the year, impairments, and higher tax costs. Profit before tax was NOK 4.3bn in the fourth
quarter and NOK 11.4bn for the full year. Return on average capital employed from assets in operation reached 17.0% in 2025, compared with 22.4% in 2024, reflecting strong returns from Nordic hydropower assets and lower returns from newer renewable projects in Europe and international markets. During 2025, Statkraft continued to streamline its portfolio and focus investments on core renewable technologies, including hydropower, wind and solar. The company signed agreements to divest non-core assets with an enterprise value of NOK 15.8bn, while implementing cost reductions and reducing headcount. These measures helped reduce net debt by NOK 12bn, strengthening the company’s financial position. “I am pleased that we have now largely completed our planned divestments of non- core assets and are on track with our cost reductions,” Vartdal said. Statkraft also discontinued development of new hydrogen projects and additional offshore wind activities, prioritising investment in core generation assets and selected markets. Total investments during the year reached NOK 18bn, primarily in the Nordics and Europe. Final investment decisions were taken on projects representing 722MW of new renewable capacity, while 700MW was brought into operation.
Portugal
Fred. Olsen 1848 completes Tension Buoy pilot at EDP Floating PV Lab Fred. Olsen 1848 has completed a pilot installation of four automatic Tension Buoy units at the EDP Floating PV Lab in Portugal, an open- access facility for testing floating and hydro solar technologies. The site, located on a dam reservoir where
water levels can fluctuate by up to 50m, is being used to evaluate the company’s adaptive mooring system under variable conditions. The Tension Buoy system is designed to maintain stability in floating photovoltaic (FPV) installations despite large changes in water level. According to the company, the self- adjusting tensioning system can be configured
for different sites, including reservoirs with complex bathymetry. “By validating our technology in a dam lake with such large water level and bathymetry variations, we are uncovering the potential for floating solar and hydro power hybridisation. It’s a key step toward making hybrid renewable systems more adaptable and resilient,” said Even Hjetland, Principal Development Engineer at Fred. Olsen 1848 and a member of the installation team. The installation was completed in five days.
The project involved collaboration with EDP, Sperra and local partners. As part of the trial, Sperra’s 3D-printed gravity anchor was deployed alongside the Tension Buoy system to test anchoring performance under site conditions. The pilot will operate for one year as a live demonstration, with data collected on system performance, reliability and maintenance.
Uganda Lake Victoria project targets smarter flood control and hydropower gains Artelia has launched a major study to optimise flood management and hydropower production across the Lake Victoria–Nile system. The Nile Hydropower Optimization and Flood Management Decision Support System (NHPFM-DSS), commissioned by the French Development Agency (AFD), is being delivered in support of Uganda’s Ministry of Water and Environment. The work focuses on strengthening decision-making tools that govern releases from Lake Victoria, a critical shared resource in East Africa. Lake Victoria is jointly managed by Uganda,
Kenya and Tanzania, while its wider basin extends into Rwanda and Burundi. Water released from the lake feeds the White Nile, with significant downstream implications for South Sudan, Sudan and Egypt, making its regulation a matter of regional importance within the Nile Basin. Current lake outflows are guided by the long- standing “Agreed Curve” principle, designed to mimic natural flow conditions. However, recent fluctuations in lake levels, increased hydrological variability and growing exposure to flooding have raised concerns about the adequacy of these rules, particularly as hydropower demands continue to rise. Artelia’s assignment aims to reassess these operating frameworks by analysing alternative release scenarios and their potential impacts. The study will examine hydraulic behaviour, downstream flood risks, and implications for energy production, alongside wider socio- economic consequences. The project also includes stakeholder consultations and institutional reviews to evaluate the feasibility of updated management approaches. Capacity-building activities, including on-site training, are planned to support local authorities in implementing improved decision-support tools.
www.waterpowermagazine.com | May 2026 | 7
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