Finnish energy group Fortum said it plans to “grow substantially in Nordic wind and Norway” as it formed a joint venture with Norwegian developer Nordkraft Vind.
The two companies have been partners in the Norwegian wind market since 2017, and Fortum has since bought three projects totaling 170MW from Nordkraft in the country.
Fortum – which is also one of Russia’s pioneering wind developers via its joint venture there – said it sees Norway as a key market in its ambitions to create a “multi gigawatt wind and solar portfolio” globally.
Joonas Rauramo, vice president, wind at Fortum, said: “Fortum's goal is to grow substantially in Nordic wind and Norway has an important role in this strategy.
“With the joint venture, we aim to combine the expertise of Fortum and Nordkraft to develop high quality wind power projects in Norway.”
At the end of 2021 Norway will leave the green certificate scheme it jointly operates with Sweden, leaving wind development to compete on price alone in a system that is already well-served with renewable power from the country’s vast hydro fleet.