Reaction mixed to huge windmill plan

Both praise and objections were blowing around Norwegian plans announced on Tuesday to go ahead with what’s billed as the largest land-based windmill project in Europe. State-owned energy firm Statkraft, local utility TrønderEnergi and an investor consortium called Nordic Wind Power plan to build the windmills on the Fosen peninsula, at Hitra and in Snillfjord. It’s […]

Oslo Stock Exchange defies oil price dive

Despite the economic turbulence in Norway that’s been fueled by the dive in oil prices, the Oslo Stock Exchange could report an overall increase of 5.6 percent in its main index when the trading year ended. The index closed at 610.26, marking the fourth year in a row of rising share prices. The increase was […]

‘Green growth’ predicted for 2016

Researchers think 2016 will be the year that mainland-based businesses and services in Norway will start growing again, with renewable energy ventures finally showing some “hardcore” growth. Per Espen Stoknes of the Norwegian Business School BI told newspaper Dagsavisen that rates for solar and wind energy may fall and that there will be a “considerable” increase […]

Winds blew right for Statoil boss

Irene Rummelhoff, Statoil’s new top boss in charge of renewable energy, was grinning from ear to ear this week after the company could announce some good news for a change. After months of cutbacks in other areas, Statoil made “the final investment decision” to build the world’s first floating wind farm, and Rummelhoff will be in […]

Utility rejects warmth from crematorium

A large crematorium in Oslo offered to provide warmth to the city’s major utility Hafslund, which supplies energy and heating in the Oslo area. Hafslund turned down the offer, citing financial and ethical concerns. Newspaper Vårt Land reported Wednesday that the crematorium at the city’s large Alfaset cemetery wanted to hook up to Hafslund’s underground fjernvarme system. Hafslund initially […]

Oil fund’s coal investments ‘OK’

An expert commission thinks its perfectly fine for Norway’s huge oil fund to keep investing in coal and other fossil fuels. Environmentalists objected immediately, but the commission argued that the fund can have more influence and control over coal production if it continues to be a major owner in coal companies. Martin Skancke, leader of the commission, believes […]

Oil fund grilled over its coal holdings

Norway’s huge sovereign wealth fund, known as the oil fund since it’s fueled by the country’s oil revenues, is being grilled once again, this time over its investments in coal. While environmentalists want the fund to dump its coal mining stakes, some economists do, too, warning that they can become unprofitable as well as damaging for the planet. […]

‘Sad day for Svalbard’ as mine lays off workers

Around 100 workers at the Store Norske mine on Norway’s Arctic archipelago of Svalbard are being laid off, as a result of low coal prices and cost-cutting needs at the mining company that was founded in 1916. Store Norske still operates three coal mines on Svalbard that together have employed around 340 people. Now a […]

Norway ‘doesn’t have much extra gas’ for EU

Norway’s oil and energy minister, Tord Lien, said Tuesday that Norway has “a theoretical capacity” to export 120 billion cubic meters of gas a year to Europe, but is already exporting “about 106 billion cubic meters.” The gap “doesn’t give us much extra gas” to export without cutting into oil production, Lien said. Tensions resulting […]

Baltic gas deals pressed down Russian prices

Norwegian gas deals with Lithuania have led to some lower prices from Russia’s Gazprom, in an apparent attempt to hang on to Gazprom’s Baltic customers. Norway, however, is now playing a bigger role in the Baltic energy sector. First Lithuania agreed to a long-term deal with Høegh LNG for a floating terminal for imports of […]