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Hydro Rein and OVF join forces for solar power in Norway

Hydro Rein and Opplysningsvesenets fond are creating a joint solar company, Geisli Energi AS, with the aim of developing seven solar projects totalling 655 MW in Norway, thus strengthening the country's growing green energy sector.
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Hydro Rein and Opplysningsvesenets fond (OVF) join forces to create Geisli Energi AS. This alliance launches Hydro Rein into solar energy in Norway. The Group is developing seven solar projects, totalling 655 MW, on selected properties.

Partnership for the development of solar energy

Hydro Rein and OVF join forces to support the dynamic growth of the Norwegian solar industry. Geisli Energi AS, the new joint venture, will be split between Hydro Rein (49.9%) and OVF (50.1%). Hydro Rein will manage development and construction in collaboration with local authorities and municipalities.

“We look forward to strengthening Hydro Rein’s solar ambitions in Norway in collaboration with OVF. Both companies have a long and proud history in Norway and are now partnering with the ambition to create solid projects in close collaboration with local communities and municipalities. We are looking forward to realizing our commitment to developing more green energy for Norway and Norwegian industry,” says Tor-Ove Horstad, Chief Commercial Officer (CCO) and Head of Hydro Rein in Norway.

Various solar projects for sustainable energy

In this collaboration, solar projects range in size from 20 MW to a potential 100 MW. They total 655 MW. Annual energy production is planned at 330 GWh, with the possibility of generating a further 400 GWh each year. By harnessing the solar potential of OVF’s strategically located properties, the initiative strengthens the supply of renewable energy and accelerates the green transition.

“OVF already has a strong foothold in hydropower thanks to Clemens Kraft. We are now equally excited about developing solar power on OVF properties and securing more renewable power for the green transition,” says Ole-Wilhelm Meyer, CEO of Opplysningsvesenets fond.

Local development and sustainable impact

The completion of solar power generation facilities will stimulate local development and help supply green energy to industries located in regions previously facing energy constraints. This joint initiative is in line with OVF’s established position in hydropower through Clemens Kraft, demonstrating their commitment to broader renewable energy initiatives.

A shared vision for sustainable progress

This collaboration reflects both companies’ aspirations for sustainable progress. Tor-Ove Horstad, Commercial Director and Head of Hydro Rein in Norway, highlights the shared history and ambitions of Hydro Rein and OVF to contribute to Norway’s renewable energy landscape. Ole-Wilhelm Meyer, CEO of Opplysningsvesenets fond, underlines their shared commitment to climate targets and regional development.

Milestone in Nordic renewable growth

This initiative marks a crucial step in Hydro Rein’s commitment to renewable growth across the Nordic countries. In addition to the Norwegian project, Hydro Rein is also involved in early-stage solar projects in Sweden and Denmark. In Brazil, Hydro Rein is actively involved in the development of large-scale solar energy projects, while offering a range of energy solutions tailored to industrial customers.

“We’re really excited about this partnership with Hydro Rein, a competent and solid industrial company with deep roots in Norway. By developing solar energy, we are strengthening OVF’s role in the development of Norwegian regions, while at the same time contributing to the achievement of climate targets,” adds Meyer.

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