Large surplus of renewable energy.
All of Nordkraft’s sites have access to 100 % renewable energy from either wind or hydropower, as there is no other type of energy production in Northern Norway. Northern Norway has no large connections to areas where energy production is based on fossil fuel.
It is a large surplus of renewable energy in Northern Norway with a production of about 20 TWh and a consumption of only about 12 TWh. In total the region has about 5,000 MW of installed wind and hydropower capacity.
There is also a large potential to build additional renewable energy. Over 400 MW of wind projects are currently under construction (Q4 2019) and several additional projects are assumed to be constructed over the next years.
Several of the sites are situated nearby a hydropower plant with reservoir and it might be possible to connect the DC directly to these plants. This could eliminate the need of fossil fuel back-up and Nordkraft is exploring such alternatives.
The map below shows the diversified wind and hydropower production in Northern Norway with Nordkraft’s sites marked in red.
Norway has a power production of close to 98 % from hydropower and wind power. Thermal power consists of the last two percentages. This leads to the highest share of electricity made from renewable energy in Europe after Iceland, and with new estimated large investments within wind power and hydropower the share of renewable energy should increase even further over the next years.
In the world Norway is currently the world’s 6th largest hydropower producer and the largest hydropower producer in Europe.