The company said that the surplus power and continued moderate demand in the region have led to lower power and electricity certificate prices.
Statkraft president and CEO Christian Rynning-Tønnesen said: "Statkraft finds it regrettable that the projects cannot be realized.
"The authorities have contributed by facilitating wind power development, for example through improving the depreciation rules.
"Unfortunately, the market development is such that it is still not commercially responsible to invest in these projects."
Statkraft is the operator of the projects, which are owned by Agder Energi, TrønderEnergi and Nord-Trøndelag Elektrisitetsverk (NTE).
Vestas was selected earlier as preferred supplier of turbines for the projects, which were expected to generate approximately 3.25 terawatt-hours (TWh) power annually.
However, Statkraft said it will continue to develop hydropower and district heating in Norway, and expects wind power to become competitive in the region over the longer term.
