Norway Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution, and Technology, Regulations, Key Players and Forecast, 2022-2035

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Norway Power Market Overview

The cumulative installed capacity in the Norway power market was 39.9 GW in 2021. It is expected to grow at a CAGR of more than 2% during 2021-2035.

Norway Power Market Outlook 2021-2035 (GW)

Norway Power Market Outlook 2021-2035 (GW)

The Norway power market research report discusses the power market structure of Norway and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the country’s power market regulatory structure, competitive landscape, and a list of major power plants are provided. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential. An analysis of the deals in the country’s power sector is also included in the report.

Cumulative installed capacity (Year – 2021) 39.9 GW
CAGR (2021-2035) >2%
Forecast period 2022-2035
Deal types Equity Offerings, Partnership, Debt Offerings, Asset Transaction, Acquisition, Private Equity, Merger, and Venture Financing
Key sectors Industrial Sector, Residential Sector, Commercial Sector, and Transport Sector
Key players Statkraft AS, Hafslund E-Co AS, Norsk Hydro ASA, Agder Energi AS, and Lyse AS
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Norway Power Market Dynamics

Norway is excessively dependent on hydropower which led to lower generation in the years that witness lower than average rainfall, causing Norway to depend on imports to make up for the loss. However, the fact that Norway is connected to the UK, Germany, Denmark, the Netherlands, Sweden, and Finland ensures energy security. Norway has large reserves of oil and gas, but these have been used sparingly for power generation due to the large availability of hydropower. The government is focusing on increasing the use of renewable resources. Norway has excellent wind power potential, especially for offshore wind in the North Sea. The country has been immune from the effects of the Ukraine crisis due to a self-sufficient electricity supply and a good interconnection network with European countries. It is the second-largest exporter of natural gas to the European region after Russia.

In Norway, the energy policy is regulated by the NVE (Noregs Vassdrags og Energidirektorat) that operates under the Ministry of Petroleum and Energy. The power generation segment is dominated by Statkraft AS, Hafslund E-Co AS, Norsk Hydro ASA, Agder Energi AS, and Lyse AS. Statnett owns and operates Norway’s high-voltage electricity transmission grid. As the system operator, Statnett also monitors the interconnected networks, manages grid emergencies, and ensures that reliability, voltage, and frequency targets are met.

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Noway Power Market Segmentation by Deal Types

The deal types in Norway power market are equity offerings, partnership, debt offerings, asset transaction, acquisition, private equity, merger, and venture financing.

Norway Power Market Analysis by Deal Types, 2021 (%)

Norway power market, by deal types

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Norway Power Market Segmentation by Sectors

The key sectors in the Norway power market are the industrial sector, residential sector, commercial sector, and transport sector. In 2021, the industrial sector had the dominant share in power consumption.

Norway Power Market Analysis by Sectors, 2021 (%)

Norway power market, by sectors

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Norway Power Market – Competitive Landscape

Some of the key players in the Norway power market are Statkraft AS, Hafslund E-Co AS, Norsk Hydro ASA, Agder Energi AS, and Lyse AS.  In 2021, Norway power generation market was dominated by Statkraft AS.

Norway Power Market Analysis by Companies, 2021 (%)Norway power market, by key players

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Scope

This report provides:

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential of the power sector.
  • Statistics for installed capacity, generation, and consumption from 2010 to 2021, and forecast for the next 14 years to 2035.
  • Capacity, generation, and major power plants by technology.
  • Data on leading active and upcoming power plants.
  • Information on transmission and distribution infrastructure, and electricity imports and exports.
  • Policy and regulatory framework governing the market.
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis.

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector.
  • Identify key factors driving investment opportunities in the country’s power sector.
  • Facilitate decision-making based on strong historic and forecast data.
  • Develop strategies based on the latest regulatory events.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Identify key partners and business development avenues.
  • Identify key strengths and weaknesses of important market participants.
  • Respond to your competitors’ business structure, strategy, and prospects.

Statkraft AS
Norsk Hydro ASA
Agder Energi AS
Lyse AS

Table of Contents

1. Executive Summary

1.1 Norway’s electricity supply remains immune to Ukraine crisis

1.2 Renewable power to account for

28.2% of annual generation by 2035

2. Introduction

2.1 Norway Power Market

2.2 GlobalData Report Guidance

3. Norway Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

3.6 Impact of COVID-19

4. Norway Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

Deal Value and Volume, 2010–2021

Deals by Type, 2021

4.4 Norway Power Market, Demand Structure

Power Consumption by Sector, 2021

5. Norway Power Market, Regulatory Scenario

5.1 Renewable Energy Market, Overview

5.2 Renewable Energy Targets

5.3 Energy Act

5.4 National Climate Plan

5.5 Climate Change Act

5.6 Hydrogen Energy

5.7 Electricity Certificate Act (Quota Obligation)

5.8 Auctions

5.9 Guarantees of Origin (GO)

5.10 Energi21

5.11 Watercourse Regulation Act

5.12 Waterfall Rights Act

5.13 Act on Offshore Renewable Energy Production (The Offshore Energy Act)

5.14 Green Recovery Package

5.15 Green Conversion Package

6. Norway Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2021

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Power Capacity and Generation, 2010–2035

6.4 Hydropower Capacity and Generation, 2010–2035

6.5 Renewable Power Capacity and Generation, 2010–2035

7. Norway Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Electricity Import and Export

7.4 Grid Interconnection

8. Norway Power Market, Major Generating Companies

8.1 Statkraft AS

Company Overview

Business Description

SWOT Overview

8.2 Norsk Hydro ASA

Company Overview

Business Description

SWOT Overview

8.3 Agder Energi AS

Company Overview

Business Description

8.4 Lyse AS

Company Overview

Business Description

9. Appendix

9.1 Abbreviations

9.2 Market Definitions

Power

Renewable Power

Installed Capacity

Electricity Generation

Electricity Consumption

9.3 Methodology

Coverage

Secondary Research

Primary Research

Modelling and Forecasting

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Table

List of Tables

Table 1: Power Market, Norway, Macroeconomic Factors, 2010–2030

Table 2: Renewable Energy Quota Obligation (MWh), Norway, 2017–2035

Table 3: Power Market, Norway, Cumulative Capacity and Annual Generation, 2010–2035

Table 4: Power Market, Norway, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

Table 5: Thermal Power Market, Norway, Cumulative Capacity and Annual Generation, 2010–2035

Table 6: Thermal Power Market, Norway, Major Plants, 2021

Table 7: Hydropower Market, Norway, Cumulative Capacity and Annual Generation, 2010–2035

Table 8: Hydropower Market, Norway, Major Plants, 2021

Table 9: Renewable Power Market, Norway, Cumulative Capacity (GW), 2010–2035

Table 10: Renewable Power Market, Norway, Annual Generation (TWh), 2010–2035

Table 11: Renewable Power Market, Norway, Major Plants, 2021

Table 12: Power Market, Norway, Transmission Line Length (Ckm) by Voltage Level, 2010–2025

Table 13: Power Market, Norway, Distribution Line Length (Ckm) by Voltage Level, 2010–2025

Table 14: Power Market, Norway, Annual Electricity Import and Export (TWh), 2000–2021

Table 15: Power Market, Norway, Upcoming Interconnection Projects

Table 16: Abbreviations

Figures

List of Figures

Figure 1: Renewable Power Market, Norway, Annual Generation, 2010–2035

Figure 2: Power Market, Norway, Country Summary

Figure 3: Power Market, Norway, Macroeconomic Factors, 2010–2030

Figure 4: Power Market, Norway, Market Structure

Figure 5: Power Market, Norway, Market Share of Generation Companies (%), 2021

Figure 6: Power Market, Norway, Deal Value and Number of Deals, 2010–2021

Figure 7: Power Market, Norway, Deals by Type (%), 2021

Figure 8: Power Market, Norway, Annual Power Consumption, 2010–2035

Figure 9: Power Market, Norway, Power Consumption by Sector (%), 2021

Figure 10: Power Market, Norway, Cumulative Capacity Share by Technology (%), 2021

Figure 11: Power Market, Norway, Cumulative Capacity and Annual Generation, 2010–2035

Figure 12: Power Market, Norway, Capacity Share by Technology, 2010–2035

Figure 13: Power Market, Norway, Annual Generation Share by Technology, 2010–2035

Figure 14: Thermal Power Market, Norway, Cumulative Capacity and Annual Generation, 2010–2035

Figure 15: Hydropower Market, Norway, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Renewable Power Market, Norway, Cumulative Capacity, 2010–2035

Figure 17: Renewable Power Market, Norway, Annual Generation, 2010–2035

Figure 18: Power Market, Norway, Annual Electricity Import and Export, 2000–2021

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