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🗞️ Driving the news: Statkraft, Europe's largest renewable energy producer, is investing €700mn to upgrade its hydropower dams in Norway for enhanced resilience against climate change  
• This includes reinforcing over 70 dams to withstand extreme rainfall, a response to the increasing weather unpredictability

🔭 The context: Hydropower is crucial for Norway, providing nearly 90% of its electricity and enabling it to export energy to Britain and Europe 
• However, climate change-induced heavy rains and extreme weather events have highlighted the vulnerability of hydropower infrastructure, necessitating significant upgrades for safety and efficiency

🌍 Why it matters for the planet: The initiative reflects a broader trend among hydropower operators to adapt to climate change  
• As global temperatures rise, causing more frequent and severe weather events, such efforts become vital for energy security and environmental protection

⏭️ What's next: Statkraft aims to expand its renewable energy capacity, targeting 2.5-3GW annually by 2025 and 4GW by 2030 
• This includes diversifying into wind, gas, biomass, and solar plants globally, despite challenges like high interest rates impacting the renewables sector

💬 One quote: “We have several projects to strengthen our dams so they can be resistant to extreme rain to an extent we have not had before,” - Christian Rynning-Tønnesen, CEO of Statkraft

📈 One stat: Statkraft's hydropower plants account for the bulk of its 19GW generation capacity, underscoring the significance of these upgrades for the company's operational stability and growth.

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