OSLO: Norwegian state-owned utility Statkraft AS said on Thursday it has signed deals to sell 13.5 billion crowns ($1.2 billion) worth of assets in the third quarter, a key step in a refocused strategy that comes as the company navigates lower power prices and hedging losses. The divestments, which include its district heating business and…
Tag: Norway
Horisont Energi to wind down operations amid market headwinds
SANDNES: Norwegian clean energy developer Horisont Energi AS said on Friday it will begin an orderly wind-down of operations by the end of September, citing persistent market headwinds and a failure to secure strategic investment. The company, which spun off its Barents Blue ammonia project in June, has struggled to attract capital for its remaining…
Norcros Plc acquires Norway’s Fibo Group in NOK 618 million deal
LONDON: In a strategic move to boost its presence in high-growth European bathroom segments, UK-based Norcros plc has announced its agreement to acquire the entire issued share capital of Norway’s Fibo Holding AS from private equity firm FSN Capital. The transaction carries an enterprise value of NOK 618 million (approximately £45 million) and is subject…
Aker Solutions posts solid Q2; Reaffirms full-year outlook as order backlog climbs
OSLO: Norwegian engineering company Aker Solutions reported a strong second quarter performance on Thursday, backed by high project activity and continued momentum in its core markets. Second-quarter revenue rose to NOK 15.2 billion ($1.43 billion), up from NOK 12.8 billion in the same period last year, as the company executed key milestones including installation of…
EMGS partners with Velocitas Geo Solutions for OBN seismic survey in Norway
OSLO, NORWAY: Electromagnetic Geoservices ASA has entered into an agreement for a fully pre-funded Ocean Bottom Node (OBN) seismic survey in the Barents Sea. This survey, which will be undertaken in collaboration with Velocitas Geo Solutions, marks EMGS’ first venture into seismic node projects. The survey, set to commence in the third quarter of 2024,…
FDE acquires Greenstat, a leading green energy operator in Norway
PARIS: FDE, a carbon negative energy producer listed on Euronext, announced today that it has completed the acquisition of a controlling stake in Greenstat ASA, a leading green energy operator based in Norway, with a strong focus on hydrogen and solar activities. The acquisition, which was announced on January 16th 2024, aims to further strengthen…
Alstom to deliver 200 trains in Norway for €1.8 billion
PARIS, FRANCE: Alstom has signed a framework contract with Norske Tog (NT) for the provision of up to 200 Coradia Nordic regional trains. Valued at over €1.8 billion, the contract constitutes the most significant rail procurement in Norway’s history. The first firm order of 30 trains is worth €380 million. Delivery of Norske Tog’s new…
Everfuel and ASKO plan cooperation in Norway
HERNING, DENMARK: Everfuel A/S and ASKO AS have signed a letter of Intent (LoI) for developing a joint coordinated plan for applying Enova for support to vehicle procurement and the establishment of green hydrogen infrastructure for decarbonizing heavy-duty long-haul trucking in Norway. ASKO is Norway’s largest grocery and catering wholesaler with an extensive domestic network…
Komplett Bank enters into new forward flow agreement in Norway
OSLO: Komplett Bank continues the cooperation with Axactor, and has entered into a new forward flow agreement for the sale of non-performing consumer loans in Norway. The agreement has a duration of 12 months. According to the agreement, Axactor will service the loans for the initial 180 days after they are sent to collection and…
BEWI to setup packaging hub in Norway
OSLO: BEWI ASA plans to build a new packaging facility on the Jøsnøya island, Hitra, on the west coast of central Norway, a news release said. The new facility will be BEWI’s most modern and efficient facility for production of fish boxes, and in addition have facilities to serve the increasing volumes of reusable boxes…
Cloudberry Clean Energy to purchase hydropower plant in Norway
OSLO: Cloudberry Clean Energy has signed a Share Purchase Agreement (SPA) to purchase a hydropower company in Norway, Ramsliåna Kraft AS, with an expected annual production of 6 GWh. In addition, Cloudberry has entered into an option agreement where Cloudberry has the right to acquire Lona Kraft AS, a company that will apply for an…
Fjordkraft acquires Innlandskraft, strengthens position as leading electricity supplier in Norway
OSLO: Fjordkraft Holding ASA has entered into an agreement for the acquisition of 100% of the shares in Innlandskraft AS, a news release said. The key terms of the Transaction are as follows: The Transaction will be structured as an acquisition of all shares in the Target by the Company, from Gudbrandsdal Energi Holding AS…