| World news An Options Analysis is also in progress to
explore technical upgrade options, informed by these geotechnical investigations. This project represents the most significant upgrade to Wivenhoe Dam since the installation of the auxiliary spillway in 2005. “Wivenhoe Dam continues to operate safely and this work is vital to ensuring the dam can provide water security and flood mitigation benefits for years to come,” said Minister Butcher. “Of course, all our dams are safe, these upgrades are about making sure they all meet modern engineering standards. “The planning and geotechnical works
currently underway will support Seqwater to assess options for this important project. It’s good to see early investigative works underway which will help to determine the best way forward.” Seqwater Interim CEO, Will Harpham, added: “Seqwater is getting on with this important project, to make sure our dams meet modern engineering standards. It’s always good to see these important assessments and investigative works continuing to progress. “We will provide the community with
updates as the project progresses through the various stages, with the full upgrade due to be completed by 2035,” he said. Wivenhoe Dam, constructed in 1984, is South East Queensland’s largest water storage, supplying the greater Brisbane and Ipswich region while also providing flood mitigation benefits.
Norway
Statkraft sharpens strategy for future growth, prioritises hydropower
Statkraft has announced it will focus on expanding its core business and optimizing its portfolio through selective divestments, prioritizing investments in Norwegian hydropower, market operations, and growth in solar, wind, and batteries in Europe and selected international markets. The company also plans to divest its district heating business and seek investors for its biofuels company, Silva Green Fuel, and the EV charging company, Mer. “Statkraft has in recent years built a strong position and an attractive portfolio of profitable renewable projects,” explained President and CEO Birgitte Ringstad Vartdal. “The transition from fossil to renewable energy is happening at an increasing pace in Europe and the rest of the world. We have strong competitive advantages and have delivered great value creation over time. However, the market conditions for the entire renewable energy industry have become more challenging. We are therefore sharpening our strategy to allocate the capital to the most value-creating opportunities with the best strategic fit.” Statkraft has developed a significant portfolio of power plants with a total capacity
of 21GW, along with a net flexible development portfolio of profitable projects totaling 21GW. The company has committed to large investments for the coming years, with over NOK 30 billion planned for 2024, including the acquisition of the Spanish renewables company Enerfin in May. In Norway, Statkraft has a long-term investment program in wind and hydropower, including five major capacity upgrade projects. Despite these plans, the energy market has become more challenging. Energy prices are lower, and both technology and capital costs have increased. Market regulations and support policies are delayed, and geopolitical uncertainty has grown. This strategic adjustment follows Statkraft’s annual strategic review, the first with Ringstad Vartdal as President and CEO. The fundamental drivers of the energy transition continue to support Statkraft’s growth strategy, with strong demand for solar and wind power, increased need for flexibility in the power system, and greater market complexity fitting well with Statkraft’s competitive advantages. “Statkraft has a unique and strategic position in flexible production, experience with weather-based systems, and strong analysis and market competencies. Together with a capable and motivated organization, this makes the company well prepared to grow, build scale, and compete in a rapidly growing renewable market,” said Ringstad Vartdal. Statkraft’s growth strategy rests on four
pillars: providing clean flexibility through hydropower, growing in solar, wind, and battery storage, delivering green market solutions to customers, and scaling new green energy technologies. The revised strategy includes: Prioritizing value creation from hydropower and market operations, with plans for at least five major capacity upgrade projects in Norway by 2030.
Developing 2-2.5 GW of solar, onshore wind, and battery storage annually from 2026 onwards, and aiming for 6-8 GW of offshore wind in Northern Europe by 2040. Contributing to an efficient energy market and supporting industrial customers’ green transition.
Developing new green energy businesses, including green hydrogen, with a target of delivering 1-2 GW by 2035. “With a sharpened strategy, we are well equipped to deliver both good value creation for the owner and to be a strong driving force in the energy transition in Norway, Europe, and the world,” said Ringstad Vartdal.
Sweden AFRY to develop technical analysis for Vattenfall’s Juktan project Vattenfall is working on restoring and renewing the Juktan pumped storage station to meet the growing demand for fossil-free energy.
AFRY has been involved in the environmental impact statement and technical description for the application to the Land and Environment Court, and has now has been awarded a contract for further work on the plant design. Located between lakes Storjuktan and
Storuman in northern Sweden, the Juktan pumped storage station was the first and largest pumped storage plant in Sweden, operating from 1979 to 1996. Vattenfall has applied to the Land and Environmental Court in Umeå for the reconstruction of the power station, with plans for commissioning by 2032. Once operational, Juktan will be Sweden’s largest pumped power station, with a capacity of up to 315MW. During the pre-study phase, AFRY handled the investigation and decision-making basis for the project’s continuation, including the environmental impact statement and technical description. In the next phase, AFRY will conduct technical investigations to optimize the Juktan facility’s performance and safety. This will cover the reconstruction of the power station, hydromechanical calculations for securing waterways, and development of requirements specifications and procurement documents for a new turbine and generator. AFRY will also collaborate with Vattenfall and Svenska Kraftnät to produce an RFG investigation for grid connection requirements. “We are very proud to contribute with our global expertise in hydropower to the project, where a part of Sweden’s history is being revived. This type of large-scale energy storage is important to enable the industrial initiatives underway in northern Sweden. In a global context, hydropower is crucial for a more sustainable transition,” said Elon Hägg, VP and Head of Business Area Hydro at AFRY. “Through these efforts, AFRY ensures that
Vattenfall receives the technical data needed to be able to make an investment decision. Juktan can be an important contribution to increasing capacity in Sweden’s future energy system,” added Miriam Mesquine, business area manager Hydro Sweden at AFRY. The project is ongoing, with commissioning
planned by 2032 if an investment decision is made.
Romania
Major contract signed for revitalization of Vidraru hydropower plant As part of a consortium, KONČAR has signed a significant contract with Romanian company Elektromontaj S.A. to revitalize the Vidraru hydropower plant in Romania. This project includes comprehensive design, production, delivery, dismantling of outdated equipment, installation of new equipment, testing, and commissioning. The contract, awarded through an international tender, is valued at over €188 million, with KONČAR’s contribution nearly €80 million.
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