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Norway

Norway

Capital subsidies for wind until green certificates trade cuts in

The Norwegian government says it will offer capital subsidies of up to 25% of project cost to boost wind power development. Enova, the agency responsible for renewable energy policy, voiced its concerns over the uncertainty surrounding the likely introduction of a market based on trade in green power certificates in 2006 and the need for longer term investment in the industry. By way of compensation, it has promised to provide up to a quarter of the costs for approved wind power projects. Enova's Eli Arnstad says the news should provide a major boost to Norway's wind market over the next year or so. Furthermore, the government's annual target of 3 TWh of electricity from wind power should now be achievable. This year production of electricity from wind in Norway will reach some 0.5 TWh from about 160 MW of installed capacity. Meanwhile 14 concessions have been approved for new wind stations or extension of existing plant amounting to some 600 MW. If built they will generate 2 TWh of power, around four times current output.

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