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The Norwegian renewable energy industry has a turnover of almost 30 percent more in 2019 than in 2018, according to a new report.
Onshore wind was the fastest growing renewable sector in 2019. Image is from Høg-Jæren wind farm.
Jarle Aasland
Published:
– It is gratifying to see such an increase. The Norwegian industry has great potential. We shouldn’t shy away from them, says Sjur E. Bratland, head of Norwegian Energy Partners (NORWEP).
Multiconsult has mapped the Norwegian renewable energy industry in 2019. They have addressed wind, hydro, solar energy and bioenergy. One of the main findings is that all sectors increase turnover. In total, the part of the turnover they analyzed was a record, with NOK 45.1 billion against 35.2 billion in 2018.
Heat and power production, transmission and end-user sales are not included in the figures measured in the report. Instead, they take on equipment billing, development, and consulting.
The report has been prepared on behalf of NORWEP, Export Credit and the Ministry of Petroleum and Energy. NORWEP, which is a collaboration between 300 companies, works to connect Norwegian technology with customers abroad.
The number of employees, 14,447 man-years, has remained relatively stable in all renewable sectors. The report’s authors believe that the increased efficiency and large-scale profits that often occur in growing industries are the reason why the number of man-years does not increase in parallel with turnover.
| Total turnover (billions of crowns) | National turnover (billions of crowns) | Export turnover (billions of crowns) | Foreign sales (billions of crowns) | Man-years in Norway | |
| Windmill on land | 14.2 | 10.5 | 1 | 2.7 | 1,821 |
| Hydroelectric power | 11.3 | 10 | 0.8 | 0.5 | 7,578 |
| Offshore wind energy | 11.1 | 1.8 | 5.4 | 4 | 2,431 |
| Solar energy | 6.3 | 1.7 | 2.4 | 2.1 | 1,859 |
| Bioenergy | 2.2 | 1.9 | 0.2 | 0.2 | 757 |
| Total | 45.1 | 25.9 | 9.7 | 9.5 | 14,477 |
| Source: Multiconsult | |||||
Tailwind for wind power
Total billing is made up of national billing, exports and subsidiaries abroad. In isolation, national turnover was NOK 25.9 billion, compared to NOK 20.5 billion in 2018. The highest growth was recorded in onshore wind power.
With a total turnover of NOK 14.2 billion, onshore wind replaced hydro, at least in terms of the factors measured in this report. Never before has so much wind power been developed in Norway in one year, with 780 megawatts spread across nine plants.
Offshore wind power continued to grow and had a total turnover of NOK 11.1 billion. But here it was exports and overseas sales that were higher, as there are still no commercial offshore wind farms in Norway.
In Europe, 11.7 gigawatts of wind power were installed onshore, 25 percent more than in 2018. Globally, 54 gigawatts were installed. In terms of offshore wind power, Europe developed 3.6 gigawatts. Never before has more been installed in the course of a year. Globally, it was also a record, with 6 gigawatts.
– By 2030, we see 50 billion in exports before offshore wind. More than half of our partner companies are concerned about wind power, and the number is constantly increasing, says Bratland.
Before the renewable energy industry, the total volume of exports was NOK 9.7 billion in 2019, six per cent more than in 2018. Only offshore wind saw export growth. Sales turnover in foreign subsidiaries increased by 70 percent from 2018 to 2019, to NOK 9.5 billion. More than half of this growth came from offshore wind power.
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Equip hydropower
The second largest sector in the report is hydropower, with NOK 11.3 billion in total turnover. Ten of these billions came from the domestic market.
In 2019, 100 megawatts were put into operation at new hydroelectric plants in Norway, less than half the previous year. But the expansion and upgrade of existing power plants increased by 35 percent, to 266 megawatts in 2019. There were also 900 megawatts being built by the end of the year.
– Hydroelectric energy is a segment in which we should invest more internationally than at present. We have set ourselves a target of NOK 10 billion for export turnover by 2030, says Bratland.
Internationally, 16 gigawatts of new hydropower were installed, nearly 80 percent less than in 2018.
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Oil is the biggest
Although the renewable energy industry has grown large, oil is still much larger. Norwegian oil service companies had a turnover of NOK 398 billion last year, according to a recent report by Rystad Energy.
– We expect 150 billion in exports from the Norway-based oil and gas services industry in 2030. But getting oil and gas industry players to work in other sectors is almost one of the most important tasks we have. says Bratland.
