Finance
Norway's Statnett to invest up to $20 billion in power grid by 2035
Published by Global Banking & Finance Review®
Posted on November 3, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 3, 2025
2 min readLast updated: January 21, 2026
Statnett plans to invest $20 billion in Norway's power grid by 2035 to address growing power consumption and security threats.
OSLO (Reuters) -Norway's transmission system operator (TSO) Statnett will more than double its investments over the next decade to accommodate growing power consumption and secure the grid against climate and security threats, it said on Monday.
Statnett is planning to invest between 150 to 200 billion Norwegian crowns ($15 billion-$20 billion) over the next ten years, more than double its spending in the previous ten-year period, it said when presenting its system development plan.
Investments are driven by a large need to upgrade existing lines as well as significant plans for electrification, business development and new industry driving up applications for grid connections, CEO Elisabeth Vardheim said.
"We will build more than before, but we cannot do everything at the same time," she added.
NEED TO PROTECT AGAINST EXTREME WEATHER, MILITARY THREATS
Cost inflation, a shortage of resources needed to implement planned works and a pressured supplier market require tough prioritisation, Vardheim said.
It is the second time after 2023 that Statnett published a ten-year system development plan, and the latest version pays increased attention to preparedness and security, the company said.
More extreme weather, increased digitalisation and an aging grid all resulted in a more vulnerable power system, Statnett said.
"Increased threats mean that Statnett is also considering what measures are needed to secure supply in more serious scenarios, including war on Norwegian soil," it said.
($1 = 10.0431 Norwegian crowns)
(Reporting by Nora Buli, editing by Terje Solsvik)
Infrastructure financing refers to the funding of large-scale public works projects, such as transportation systems, utilities, and energy facilities, often involving public-private partnerships.
Renewable energy is energy generated from natural resources that are replenished constantly, such as solar, wind, hydro, and geothermal power, contributing to sustainable energy solutions.
Investment is the act of allocating resources, usually money, in order to generate income or profit. It can involve purchasing assets like stocks, bonds, or real estate.
Sustainability refers to the ability to maintain or improve certain essential processes or systems over time, particularly in environmental, economic, and social contexts.
Cost inflation is the increase in the prices of goods and services, which can affect the overall economy and lead to higher expenses for businesses and consumers.
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