Twenty years ago, the Norwegian hydropower company Statkraft observed that sustainability was emerging as a global megatrend. It embarked on a strategy to expand into renewable energy in markets around the world, building on its existing know-how in hydropower. Now Statkraft is one of the largest renewable-power producers in the world.
How did a state-owned company focused on supplying power to the domestic Norwegian market make such a risky strategy a success?
In an interview with Michael S. Hopkins of MIT Sloan Management Review and BCG’s Knut Haanæs, Statkraft CEO Christian Rynning-Tønnesen looks back on the analytical capabilities, management style, and organizational structures that allowed the company to adapt in line with its chosen strategy.
Read the full interview.