Hydro Rein and Opplysningsvesenets fond establish joint solar power company
London, 15 August, 2023, (Oilandgaspress) Hydro Rein is establishing a joint solar power company together with Norwegian landowner Opplysningsvesenets fond (OVF). The parties aim to develop seven solar projects totaling 655 MW at selected properties in Norway.
With this new company Geisli Energi AS, Hydro Rein and OVF are joining the rapidly growing Norwegian solar industry. The new company will be owned 49.9 percent by Hydro Rein and 50.1 percent by OVF. Hydro Rein will be responsible for project development and construction of the solar power plants. The size of the projects will vary from 20 MW to potentially 100 MW, totaling 655 MW. Annual production is estimated to be 330 GWh, with a potential for an additional 400 GWh per year.
OVF is one of Norway’s largest and oldest landowners. The fund owns several properties with good solar conditions located close to industry sites. The parties have started the work on choosing specific locations for the projects. Next step in the partnership is to conduct thorough assessments of OVFs properties and decide on prioritized areas. Completion of the solar power plants will enable local development and new green power to industry in areas which have had less access to power.
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