The Norwegian renewables industry experienced turnover growth of almost 12 % in 2021 compared to the previous year, according to two fresh reports. Offshore wind accounts for most of that growth, with a turnover increase of 55 %.
The documents were commissioned by the Ministry of Petroleum and Energy, Norwegian Energy Partners, and Financing Norwegian export (Eksfin), and prepared by Multiconsult and Rystad. Both were presented in Oslo today.
“The reports show that the Norwegian supply industry continues to be competitive in the global market,” says the Minister of Petroleum and Energy, Terje Aasland. “We are seeing impressive growth in sales to the renewable energy sector, particularly in offshore wind.”
The total turnover of the renewable energy industry in Norway was 62.5 billion NOK in 2021. Offshore wind accounts for the lion’s share of this sum, as its income is almost as large as the income of all other renewables combined.
“It’s impressive to see how the Norwegian renewables supplier industry is growing internally, says Eksfin Chief Executive Officer,” Tone Lunde Bakker. “Norway has a lot of technology and offshore expertise, which together with the available financing support constitute an important competitive advantage.”
You can read the two reports in their entirety be following the links below (both documents are in Norwegian):