-- Statkraft reported Q1 earnings Thursday, showing total power generation of 20.3 terawatt hours, down from 21.7 TWh a year earlier.
Hydropower generation declined to 16.8 TWh for the quarter ended Mar. 31, from 18.2 TWh a year earlier, the company said.
Statkraft reported wind power generation of 2.3 TWh in the quarter, unchanged from a year earlier, it said.
Gas-fired power generation slipped to 0.9 TWh from 1 TWh a year earlier, while biomass and solar power generation increased to 0.2 TWh from 0.1 TWh, Statkraft added.
Statkraft generated 14.1 TWh in Norway during the quarter, down from 15.8 TWh a year earlier, while generation in Europe excluding the Nordics increased to 2.2 TWh from 1.8 TWh, the company said.
The company maintained its renewable investment strategy and expects to invest NOK16 billion ($1.72 billion) to NOK20 billion annually in the coming years, according to Statkraft.
Statkraft is advancing 1.5 gigawatts of renewable energy projects under construction across Europe and South America, including solar, wind, battery storage, and hydropower development, according to the company.