To achieve the Energy Commission’s ambitious goal of 40 TWh of new power production by 2030, solar power must play a central role. With a technical potential of 30 TWh for solar energy alone, combined with our expansive land area, Norway is well poised to significantly increase its solar power capacity. However, the removal of regulatory barriers and streamlining of the concession process are crucial steps to unlock this potential.
The Fastest Growing Energy Source
The Norwegian Water Resources and Energy Directorate (NVE) has indicated in its long-term power market analyses that solar power could account for a production of 7 TWh by 2040 – a substantial increase from today’s production of around 0.3 TWh per year. Globally, solar power is on the rise, a trend emphasized by the International Energy Agency (IEA) which considers solar energy as the fastest growing energy source. This is due in part to the rising demand for renewable energy and generally reduced production costs for solar cells.
First Ground mounted Solar Power Plant
In May 2022, the granting of a concession for the Furuseth solar power plant in Stor Elvdal municipality in Innlandet county marked a significant step towards expanding solar power in Norway. As the country's first land-based solar power plant, Furuseth solar power plant has been authorized to generate electricity equivalent to the consumption of over 300 households, with a total capacity of about 6.4 GWh.
We engage in a range of issues central to realizing the solar power potential in Norway, assisting power companies, project developers, banks, and investors with everything from concessions and contract management to transactions and structuring. With the right support and investments, we believe that the potential for solar power in Norway can be fully realized, significantly contributing to the country’s renewable energy goals. Feel free to contact us if you want to learn more about how we work with solar energy and the opportunities in this market.