Pressure pipelines at pumped storage power plant in Erzhausen, in Germany.
Photo: Dag Spant

Strategy: Powering a green future

Our strategy is a response to changing markets. We will build profitable scale in the markets where we’re already present, finding the best opportunities in renewable energy within each country and across technologies.

The energy systems of the world are changing, and they are changing fast. The world is embracing wind power and solar power on a scale that we have never seen before, and there is much more to come.

A challenge arising from this comes when the wind doesn’t blow and when the sun doesn’t shine. That’s when we need flexible power sources such as hydropower to complement these new renewable sources.

The access to cheap and renewable energy makes electrification the most effective solution to the climate challenge. All of these changes represent challenges, but also huge opportunities for those able to adapt.

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Optimise and expand our hydropower portfolio

The most important thing we do is to protect the value of our hydropower assets through refurbishments, improved operations and long-term industrial contracts. We will also continue to build on our flexible portfolio with selective acquisitions.

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Ramp up as wind and solar developer

We will become a leading developer of profitable onshore wind and solar projects. This means taking on a significantly larger number of projects and selling down where appropriate. We develop the projects, including finding route to market and can therefore sell stakes in it as our value creation is highest in the development phase.

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Grow our customer business

We will use our market knowledge as a competitive advantage in an increasingly complex market. Serving large customers’ needs across the whole value chain; from market access and hedging to green power supply. We’ll continue to grow customer-oriented activities like EV charging and district heating.

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Develop new business initiatives

We will use Norway’s position as a frontrunner in decarbonisation to develop a few large business initiatives with international potential within for instance data centres, EV charging, advanced biofuel or green hydrogen.
 

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