Statkraft has submitted a license application for a major upgrade to the Mår power plant in Norway, aiming to boost power generation by over 13 percent. This proposed upgrade is part of a broader NOK 70 billion initiative focused on enhancing Norwegian hydropower infrastructure, reflecting a significant step in the ongoing energy transition. The new power plant is planned to have nearly three times the current installed capacity, aimed at increasing electricity production swiftly during high demand periods to help mitigate price peaks. Additionally, the project includes potential future plans for a pumped storage facility, which would further enhance its ability to meet electricity demands efficiently. This development exemplifies the careful balance of increasing renewable energy production while addressing local environmental and community impacts.

In other market news, Jiangsu Leadmicro Nano-Equipment Technology (SHSE:688147) was a standout up 16.5% and finishing the session at CN¥161.88. In the meantime, Barito Pacific (IDX:BRPT) trailed, down 8.5% to finish the session at IDR1,285.00.

Best Energy Transition Stocks

• Tesla (NasdaqGS:TSLA) settled at $411.84 up 8.5%.
• GE Vernova (NYSE:GEV) closed at $1,102.51 up 5.5%.
• Equinor (OB:EQNR) closed at NOK311.00 up 0.6%.

Next Steps

• Click through to start exploring the rest of the 185 Energy Transition Stocks including Monster Beverage, TotalEnergies and Neoenergia now.
• Want Some Alternatives? AI is about to change healthcare. These 131 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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