Our Commitment to Hydropower

Facing today's significant challenges, political ambitions are clear: to achieve climate goals, facilitate a green transition in industry, and ensure competitive electricity prices, a shift in the development of new renewable energy production is necessary.

Electricity consumption is expected to increase significantly in the coming decade due to electrification and industrial growth. The Energy Commission estimates a need for at least 40 TWh by 2030. Eviny is committed to contributing our share of the renewable energy society requires. Our most important resource is renewable and flexible hydropower, the backbone of our energy system. The development and operation of hydropower plants have been at the core of Eviny's business since the beginning.

Currently, we operate 39 power plants across several river systems in Western Norway, in addition to five partially owned hydropower plants. On average, we produce 7.7 TWh of hydropower annually, with an installed capacity of 1,981 MW. This equates to the electricity consumption of 480,000 Norwegian homes. We manage our facilities based on values, involving operation, maintenance, upgrading, expansion, and redesign.

Moving forward, there are significant opportunities to create added value from the optimal utilization of water in our reservoirs. One of our primary tasks is to maximize the value of water, and today, the value of renewable and regulated energy is greater than ever.

Our new corporate strategy represents a shift in our pursuit of more renewable energy. We aim to lead in securing more energy and capacity on nature's terms, thereby driving the green energy transition and sustainable development of local communities in Western Norway.

Eviny will maintain relevant and competitive production facilities that maximize value creation from our energy resources in an increasingly pressured and volatile power market. This requires efficient operation and management of our facilities, further development of our regulation capabilities, and adaptation of our power trading to capture added value beyond spot prices in future flexibility markets and balancing services.

We actively work to minimize negative climate and environmental impacts from our activities, reduce greenhouse gas emissions in line with global and national climate goals, and avoid, mitigate, restore, and compensate for impacts on ecosystems and biodiversity in accordance with the nature agreement.