Statkraft is Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, gas-fired power and district heating and is a global player in energy market operations.
As part of its daily operations, Statkraft trades energy internationally on day-ahead and intraday markets. It represents small clients who produce and want to sell their own energy, large industrial organisations that need a steady supply of energy and power distributors looking for vendors.
Since market prices fluctuate and can be affected by multiple factors, understanding when to buy or sell a product is crucial to Statkraft’s success. This is why it undertakes a great deal of its own analysis in order to understand market mechanisms. As part of this, Digital Engineering provides the client with daily forecasts for over 40GW of operational wind farms in Germany.
The forecasts we provide have a high degree of accuracy and availability and are used by Statkraft to maximise its trading efficiency and reduce imbalance costs. We have recently been asked to extend our forecasting to its UK portfolio.