Core Viewpoint - Statkraft has submitted a license application to upgrade the Alta power plant, aiming to increase electricity production by up to 20% by utilizing floodwater, with minimal environmental impact [1][2][3] Company Overview - Statkraft is a leading international hydropower company and Europe's largest generator of renewable energy, with operations in hydropower, wind power, solar power, gas-fired power, and district heating [10] - The company has a workforce of around 7,000 employees across more than 20 countries [10] Project Details - The upgrade involves installing a third turbine at the Alta power plant, which was originally designed for three turbines but only had two installed due to grid limitations in the 1980s [2][4] - The project is part of a broader plan where Statkraft intends to invest up to NOK 55 billion in upgrading and maintaining Norwegian hydropower [7] Environmental Considerations - The upgrade is designed to have limited additional impact on the environment, preserving the salmon habitat in the Alta River [3][5] - The company has engaged with local reindeer herding communities to ensure their livelihoods and cultural practices are respected during the project [5] Regulatory Process - The license application has been submitted to the Norwegian Water Resources and Energy Directorate (NVE), which will conduct a public consultation as part of the licensing process [6] - If granted, the project could be completed as early as 2030 [6] Regional Impact - The upgrade is expected to facilitate business development in Finnmark, contributing to job creation and strengthening Statkraft's position in Northern Norway [7]