Statkraft proposes Mår power plant upgrade
Analysis based on 9 articles · First reported Jun 29, 2026 · Last updated Jun 29, 2026
The market is positively impacted by Statkraft's proposed upgrade of the Mår power plant, as it signifies increased renewable energy production in Norway, which can lead to more stable and potentially lower electricity prices. This investment also creates opportunities for local and national contractors, boosting the construction sector.
Statkraft has submitted a licence application to the Norway — Norwegian Water Resources and Energy Directorate for a new Mår power plant in Rjukan, Tinn municipality, Norway. This project, part of Statkraft's NOK 70 billion plan to upgrade Norwegian hydropower, aims to increase power generation by over 13 percent, from 1140 GWh to approximately 1300 GWh, and nearly triple the installed capacity from 180 MW to 520 MW. The new plant, estimated to cost NOK 9 billion, will be built further into the mountain, relocating the intake and outlet to increase the height of fall and enable quicker electricity production during high demand, thereby reducing price peaks. The application also includes an option for a future pumped storage facility. While the project promises significant societal benefits, it will involve excavating 40 kilometres of tunnels, generating large volumes of rock, and will affect the local environment and nature. Statkraft is engaging with Tinn municipality and Norway — Telemark to find beneficial uses for the excavated materials and has proposed measures to improve conditions for wild reindeer.
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