Europe's largest green energy producer Statkraft to review strategy as profit slides

Meanwhile, European wind turbine manufacturer Vestas chief executive says the $217bn (€201bn) wind industry has yet to reach 'maturity'

Statkraft has already invested significantly in solar energy and wind energy in Ireland, and there are discussions around further projects.

Norway’s state-owned utility Statkraft, which has a significant presence in Ireland’s renewable energy sector, announced a review of its activities as it reported a 23% drop in first quarter operating profit driven by sharply lower power prices.

Underlying earnings before interest and tax fell to 13.5bn Norwegian crowns (€1.1bn) in the first three months of the year from 17.5bn Norwegian crowns in the same period of 2023.