Windpower Monthly rating 4/5
Our rating is based on a combination of project pipeline, political and policy support, investor confidence and structural readiness of the country in terms of grid infrastructure, permitting process and local supply chain.
Forecast of installed and operating wind power capacity based on the latest statisitics and measured against the Windpower Intelligence database.
The Norwegian government supports the expansion of wind power. A joint Norwegian-Swedish certificate market was established to incentivise renewable electricity generation, with projects that are finalised before the end of December 2021 eligible to receive certificates for 15 years. Over the same period, end-users are obliged to purchase certificates, such that renewables producers receive payment that exceeds the market electricity price.
Norway’s electricity supply is nearly 100% based on renewable sources — dominated by hydro with wind making up less than 2% share in 2016. The country also has a significant production surplus. However, with export capacity limited, at least in the short term, this makes for low electricity prices.
In the longer term, an increase in interconnector capacity should see higher prices in the Norwegian market and provided new wind farms benefit from the certificate market, investment in wind should be profitable. There has also been increased interest from foreign investors.
The Norwegian grid system is currently being upgraded and further developed in preparation for new generation capacity, while new interconnectors are also required.The Norwegian Water and Energy Directorate is also working to speed up the application process.
NORWAY/UK:The first commercial floating wind project is close to reality with the turbines mounted on their foundations in Norway and the tugboats ready for the voyage to Scotland.
DENMARK: Virtually one third (33.2%) of Denmark's electricity came from wind during 2013, and the country is well on course to hit its target of reaching 50% by the end of the decade.
NORWAY: Although the first year of Norway's new incentive scheme for renewables saw only two turbines built, the market is very active and this should continue into 2013, with the first projects coming online by early 2014.
EUROPE: Wind power developers in Europe are looking northwards and increasingly exploring the east when choosing sites for future wind farms, while southern Europe is off the radar of most market participants.
NORWAY: A handful of Norwegian wind power projects with total capacity of 102.6MW are expected online this year.
NORWAY: Higher power and tradable electricity certificate prices boosted Statkraft's gross revenue from wind grew to NOK 322 million (€34 million) in Q3.
NORWAY: Innogy and Shell will collaborate with Stiesdal Offshore Technologies (SOT) to build a demonstration project using the TetraSpar floating foundation concept.
NORWAY: Statkraft plans to invest around NOK 10 billion (€1.04 billion) in renewable energy each year between 2019 and 2025 and to reach a gross capacity of 6GW of onshore wind by this date.
NORWAY: Statkraft has bought out its joint venture (JV) partner in the wind power development company Statkraft Agder Energi Vind (SAE Vind).
NORWAY: Equinor is considering supplying platforms at two oil and gas fields with power from an 88MW floating offshore wind farm, it has announced.