Major investment in renewable energy worldwide
Governments in a number of countries – not just the US – are investing heavily in renewable energy through powerful policy measures. Our listening post report highlights promising export opportunities for Norwegian companies across all areas of green energy. The report summarises conversations with the heads of our offices in Spain, Sweden, China, Singapore, South Korea and China. We also interviewed the heads of our regional offices in Norway.
Everyone is pursuing renewable energy
Countries around the world are pursuing renewable energy. Governments and politicians in many countries are planning major investments at the same time. This presents a significant opportunity for Norwegian companies to share in this growth. However, we are concerned that there is not enough global capacity to deliver all these projects simultaneously. Offshore wind developers in Norway also want to use Norwegian subcontractors, but these suppliers are earning so well in the oil and gas industry that they are choosing to remain there. If Norwegian suppliers lack the capacity to participate now, this could have long-term consequences for Norway's ability to develop new industries.
Shortage of power and labour
Norwegian companies generally report that business is going well, but many development projects are being halted due to shortages of power and labour. Some of our regional directors are concerned that large corporations – where decisions are often made outside Norway – may eventually move production to another country, as Norway can no longer offer either low-cost power or a sufficient supply of skilled workers.
Read the report to learn more about how countries are introducing active policies to drive the green transition and the export opportunities this creates for Norwegian businesses.