The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Portugal, Poland, Norway, Sweden, Croatia, Netherlands, India, Colombia
Sector
(35) Electricity 35 - Electricity, gas, steam and air conditioning supply 35.1 - Electric power generation, transmission and distribution 35.12 - Production of electricity from renewable sources
500 jobs Number of planned job losses
Announcement Date
19 July 2025
Employment effect (start)
19 August 2025
Foreseen end date
1 January 2027
Description
Statkraft, Europe’s largest producer of renewable energy, has announced job reductions of up to 500 positions worldwide.
The restructuring will affect several countries (including Portugal, Poland, Norway, Sweden, Croatia, the Netherlands, India, Colombia), although detailed details have not yet been released.
Statkraft will halt the development of new hydrogen and offshore wind projects (with the exception of the North Irish Sea Array project), end development activities in Portugal, and review its investment positions in Poland. The company will also exit several non-core areas, including district heating and biofuels in the Nordics, and development businesses in Croatia, the Netherlands, India, and Colombia. The exact details will be defined during the second half of 2025 as part of the annual business planning process. A consultation process with trade unions is underway.
The restructuring plan includes cost cuts of NOK 2.9 billion (approximately €244 million) annually by 2027. The measures follow a strategic review and aim to streamline operations by focusing on Statkraft’s core areas: flexible hydropower in the Nordics, and solar, wind, and battery projects in Europe and South America. The restructuring comes amid increasing global uncertainty, higher costs, lower power prices, and slower-than-expected progress in the energy transition. Statkraft will shift its priorities from volume growth to near-term profitability and cash flow, while also reducing complexity and operational expenses.
Statkraft is a leading Norwegian state-owned company and the largest generator of renewable energy in Europe, with its headquarters in Oslo, Norway. Statkraft operates on a global scale, being active in more than 20 countries across Europe, South America, and Asia. The company employs about 7,000 worldwide.
Eurofound (2025), Statkraft, Internal restructuring in World, factsheet number 203157, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/203157.
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