Business in Norway. Renewables

Tiina Link, Commercial Manager

Innovation Norway Tallinn

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Innovation Norway

•Official Norway’s commercial representation abroad

•Similar organisation to Enterprise Estonia

•Ca 8 billion EEK for the reinforcement of Norwegian industry, > 10 billion EEK in 2009

•750 employees. Offices in all Norwegian counties and 30 countries abroad. The head office is located in Oslo

• Innovation Norway office in Tallinn co-ordinates activities in the Baltic states

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‘Impressions of Norway’ video

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Norway - a well off nation

• Per capita income amongst highest in the world

• No 1 in United Nations quality of life index

• Average salary ca 60 000 EEK (2007)

• Unemployment rate: 2.5% (2007)

• Over 300 000 companies in Norway. 40 000 new companies created every year

• 80% of Norwegian companies have less than 20 employees

Source: Statistics Norway, Norwegian Ministry of Trade and Industry

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Key business fields in Norway

• Oil & gas of the North Sea. Norway is 3rd largest oil exporter in the world

• Long tradition as a seafaring nation. 5th largest shipping nation in the world

• Many newly established high-tech companies

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Energy sector in Norway

• Dominated by oil & gas

• Activities located in North Sea, the Norwegian Sea and the Barents Sea

• StatoilHydro – one of the world’s largest offshore producers of oil&gas

• Technologically very advanced supplier industry

• Power producers largely owned by public sector. Statkraft 1/3 of production capacity

• Most of countrywide distribution network owned and operated by Statnett. Municipalities and counties own most of the regional distribution networks

• Norway amongst first in the world to liberalise power market

• Fast growth in internationalisation over last years

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Environment-friendly energy sector in Norway

• 99% of total electricity production comes from hydropower

• Statkraft’s Smøla wind farm is the largest in Europe. Despite such projects wind energy still means little for energy supplies

• Solar - players of global scale, e.g Renewable Energy Corporation

• Bioenergy

• Emerging sectors:

Wave

Tidal

Osmotic energies

Biofuels

Hydrogen fuel

• Carbon capture and storage – Norway amongst leading in the world

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Wind power in Norway

• Norwegian coast offers big potential for wind energy

• Experience with demanding wind conditions, Class 1A

• Cold weather experience

• Offshore technology to be used in offshore wind parks

• Norwegian wind power business located

from South to North

• R&D - Trondheim, Bergen, Kjeller, Arendal, Stavanger

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Wind industry in Norway

• Scanwind – land-based wind turbines suited for rough coastal climate• Sway - floating wind turbines located in deep water • Highcomp – large-scale composites,

coverings for wind turbines• SmartMotor AS – new wind energy generator

uses magnets for turbines• Chapdrive – using hydraulics instead gear

in wind turbines

• WindSim - simulator for optimizing the energy production from wind turbines

• Kjeller Vindteknikk - wind measurements and analysis• Nemo Engineering – translating design, installation, operation in

offshore to the renewable energy market• Norsk Vind Energi – windparks developer/operator in Norway and Russia

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Case of R&D in wind power in Norway

• StatoilHydro Hywind floating turbines

• Financing:

StatoilHydro - ca 800 mil EEK

Enova - ca 120 mil EEK

Implementation autumn 2009

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Renewable energy R&D in the Nordic countries 1976-2010, Million €

0 €

10 €

20 €

30 €

40 €

50 €

60 €

70 €

80 €

Denmark Sweden Norway Finland

Source:Norwegian Institute for Studies in Innovation, Research and Education, Innovation Norway

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Innovation Norway’s and Nordic support to renewables sector

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Norwegian energy policy system

Source:Norwegian Institute for Studies in Innovation, Research and Education

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Innovation Norway prioritizes:

• Networks (local and international)• Small and mid size companies with international

growth ambitions• Enterpreneurship• Women in business• Youth in business• Agriculture• Tourism• Oil and gas• Health and biotechnology• Energy and environment• ICT• Maritime • Marine• Creative economy

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Innovation Norway Wind & Ocean network

• Small and medium size wind & ocean energy companies with international growth ambitions

• 150 hrs assistance from adviser with international experience and network

• 30% product development co-financing (IFU)

• Joint gatherings in different areas in Norway and abroad

• Mapping of market and financing possibilities

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Innovation/internationalisation support schemes in Norway

Research/idea phase

Development phase

Commercialisation phase

Growth phase

Tax incentives

Commercial funds

Public funds

Business angel Venture capital & private equity

Oslo stock exchange

Skattefunn

Research funds

INs risk loans

Seed fund (Investinnor)

Establishment grant

Product/services development grant(IFU/OFU)

Regional development funds

Research innovation (BIA/BIP)Research innovation (BIA/BIP)

Commercialising R&D (FORNY)

Internationalisation grants (INT)

Investment fund for non-EU.

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Nordic funding to environment-friendly/innovative projects in the Baltics

• Norwegian and European Economic Area financial mecanisms www.eeagrants.org

• Nordic Environment Finance Corporation www.nefco.fi

• Nordic Innovation www.nordicinnovation.net

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Possibilities to create personal contacts with Norwegian players

• 2nd Scandinavian Renewables conference 7 to 8 October 2009 in Oslo www.scan-ref.com

• ONS fair in 24 to 28 August 2010 in Stavanger www.ons.no

• www.nortrade.com

• Norwegian Wind Association www.norwea.no

• Innovation Norway Wind & Ocean network dybdahl@synergia.no

• Environmentally-friendly energy trade cluster http://www.arenaprogrammet.no/templates/Page_Meta____57747.aspx

• Sintef and Norwegian University of Science and Technology Renewable Energy Center www.sffe.no

• International forums to matchmake young innovative companies with risk investors www.seedforum.org

• Nordic Council of Ministers Nordprolink, Nordplus programmes www.norden.no

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Äitäh! Takk!

Tiina Link

Commercial Manager

Innovation Norway Tallinn

Norwegian Embassy

Harju 6, 15054 TallinnTel. +372 6313 466

tiina.link@innovationnorway.no

www.norra.ee / www.innovasjonnorge.no