Roan wind farm | Photo Ole Martin Wold

Significant growth in the renewable energy industry

The Norwegian industry for renewable energy grew strongly in 2018. The main reason is growth in onshore wind power, according to a new report developed by Multiconsult.

14. October, 2019

The Norwegian renewable industry includes players that produce power or heat from renewable energy sources, or goods and services for these. In 2018, this industry had a domestic turnover of almost NOK 30 billion, which is a growth of more than 70 per cent compared to the previous year.

Hydropower is still the largest sector, but land-based wind power had the highest growth. The turnover in this sector increased from NOK 1.7 billion in 2017 to NOK 8.7 billion last year.

The report has been developed by Multiconsult on behalf of Export Credit Norway, the Ministry of Petroleum and Energy and NORWEP.

– The renewable industry has great potential and we still expect significant investments in Norway in land-based wind power, hydropower and other renewable energy technologies in the coming years, says senior adviser Elena Bråten of Multiconsult.

Both exports (sales from Norway to abroad) and international sales (exports plus sales from subsidiaries abroad) increased significantly, according to the report. As in previous years, the sea wind sector is generating growth and remain the largest single sector internationally. The two segments with the highest exports, sea wind and solar energy, employed a total of 4,500 people.