Strategic ambitions and investment plans

Statkraft is well positioned to achieve ambitious growth targets and has a robust project pipeline. The main focus now will be to realise projects in the portfolio.

A precondition for realising the Group's objective for future profitable growth is a strong financial platform. Statkraft's ability to leverage growth is limited due to the Group's credit rating. Statkraft's goal is a rating level of at least BBB+ /Baa1, and in the longer term to achieve an A-level credit rating from both Standard & Poor's and Moody’ s.

In February 2009, based on the adopted strategy and the Group's financial situation, the board recommended to the owner (the Ministry of Trade and Industry) that the invested capital of Statkraft SF should be increased through a new payment of NOK 8 billion, and that the current dividend policy should be amended from normally being in the upper quartile to being in the third quartile (50-75 per cent) of the ordinary result. Statkraft has as of 26 March 2010 not received a response from the Ministry of Trade and Industry concerning the board's recommendation.

Read more about Statkraft's growth ambitions under Value increases in the Group.