Norway

Norway

Turbine siting nest egg strategy

Norwegian power developer Hydro Energi has signed an option agreement with 12 land owners at Harbakk, a mountain plateau near Afjord on Norway's west coast, to build a 35 turbine, 35 MW wind farm. The project would be the largest of three to which Hydro has shown varying degrees of commitment, representing a total potential investment of NOK 1 billion (EUR 123.3 million) or more, the newspaper Addresseavisen reports. The agreement involves a 30 year option to rent the properties, a total area of about seven square kilometres, where a test turbine is already in place to measure wind speeds for at least a year. The strategy adopted by Hydro and several other power developers is to secure properties for wind plants now, even though wind power operation is not yet considered profitable in Norway. A spokesman from Hydro Energi says the company is not ready to take a firm position on wind power development. "Conditions are not good enough at the moment, but we hope they will improve in a few years."

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