Hydro Rein and Norwegian Church Endowment establish joint solar power company



Hydro Rein, Norsk Hydro's renewable energy unit, and Opplysningsvesenets fond (OVF), the state-owned Norwegian Church Endowment, have joined forces in a new solar power venture, Geisli Energi AS, for the development and production of renewable energy in Norway. Hydro Rein will hold 49.9% and OVF 50.1% of the new joint venture.

Hydro Rein will be responsible for project development and construction, and in the first phase, the new company will develop up to seven solar energy projects totaling 655 MW on selected properties owned by OVF. “The size of the solar power plants will vary from just under 20 MW to up to 100 MW,” the company says.

The next step in the collaboration is to conduct thorough investigations of suitable OVF properties and decide on priority areas. When the solar power plants are realized, this will facilitate community development and the establishment of new industry in areas that have had less access to power.

Popular content

Hydro Rein currently has a portfolio of 20 renewable energy projects under development in core markets in the Nordics and Brazil, in addition to a pipeline of Energy Solutions projects in Europe and North America. The company has a goal of 3 GW in construction or operation by 2026.

OVF is one of Norway’s largest and oldest landowners. The fund owns several properties with good solar conditions located close to industry sites.



This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.