The largest part of Scandinavian electricity is from renewable sources. The renewables share of Scandinavian energy consumption is almost five times as high as the EU average and has risen almost three times as fast.
In recent years, the countries Denmark and Iceland have raised their shares the most, while Sweden, Finland and Norway had the highest renewable energy consumption overall. The following three companies play a part in the utilization of wind in Scandinavia and own large wind energy portfolios.
1) Ørsted A/S
Denmark-based Ørsted, called Dong Energy until 2017, develops and operates offshore and onshore wind farms as well as solar farms, with a focus on offshore wind farms. With a total offshore wind capacity of 9.9GW in 2022, the company is the global leader in offshore wind and has built more offshore wind farms than any other developer in the world. Besides Denmark, the company constructs and operates offshore wind farms in the UK, the Netherlands, Germany, the US and Taiwan.
2) Magnora ASA
Founded in 2001, Magnora managed to transition into renewable energy after selling their gas and oil business in 2018. Now, the Norway-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) Infranode AB
Sweden-based Infranode invests in transportation, digital and social infrastructure and energy, including renewable energy. The company prides itself in owning a portfolio of infrastructure long-term with a focus on the Nordic region. An example of its long-term investments into wind energy are in Esbjerg in Denmark, where Infranode invested up to one billion Danish kroner together with the Danish Port Esbjerg into new port infrastructure facilities for the wind energy industry.
You might also like our article on 3 large wind portfolio owners in Denmark.
Image Source: Appolinary Kalashnikova via Unsplash (27.08.2022)