EMEA News
Statkraft Scales Down Hydrogen Plans Amid Market Uncertainty
Norwegian renewable energy firm Statkraft has decided to pull back from developing green hydrogen projects due to uncertainty in the market.
The company had built a strong hydrogen portfolio across Europe - including Norway, Sweden, the UK, Germany, the Netherlands and Italy - but will now halt further project development.
While new projects are off the table, Statkraft will continue to mature parts of its existing hydrogen portfolio and seek external investors for those with strong potential, it said in a statement on its website last week.
Though it remains unclear whether Statkraft's green hydrogen initiatives were directly aimed at the maritime sector, the decision highlights broader challenges facing the fuel's commercial rollout.
Some experts continue to view green hydrogen as a key long-term solution for decarbonising hard-to-abate sectors like shipping. However, Statkraft's retreat underscores how early the market still is, with high production costs, limited infrastructure and policy uncertainty slowing adoption.
For now, widespread maritime use of green hydrogen and its derivatives remains a future ambition rather than a near-term reality.
"After reducing the ambition level on green hydrogen development last year, we are experiencing even more uncertainty in the market," Birgitte Ringstad Vartdal, CEO of Statkraft, said.
