Wind energy accounts for about 10% of the electricity production capacity in Norway. With this amount of its electricity production coming from wind energy and with Norway‘s high electricity production in mind, it is no wonder that wind energy in Norway is dominating investments. The following three companies are among those investors that own large wind energy portfolios in Norway.
1) Equinor ASA
Stavanger-based company Equinor is a Norwegian state-owned international energy company. Formerly named Statoil and StatoilHydro, the company is developing oil and gas, but also wind and solar energy. From offshore wind projects in Germany and the UK alone, the company produces enough energy to power over one million homes with energy. Equinor is planning to be a major player in global offshore wind power by reaching an installed capacity of 12 to 16 GW by the year 2030.
2) Magnora ASA
Founded in 2001, Magnora managed to transition into renewable energy after selling their gas and oil business in 2018. Now, the Oslo-based company concludes investments in the renewable energy sector including wind and solar energy. By developing onshore wind parks in and outside of Norway as well as large-scale offshore, floating and subsea projects, Magnora has managed to build a substantial wind energy portfolio.
3) Agder Energi
Agder Energi is a Norwegian energy group that is involved in the generation of hydroelectric power, the distribution and trading of electricity and the offering of services to their customers. Operating in Europe, the group‘s focus lies on developing hydroelectric power in Norway as well as in investing in the energy market in Europe. A major wind investment of Agder Energi, together with Green Investment Group, was the development of a wind project that is located in Norway’s Utsira Nord zone. The floating offshore wind project has a total capacity of 1.5GW and makes up a huge part of Agder Energi‘s wind portfolio.
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Image Source: Peter Beukema via Unsplash (30.08.2022)