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Business in Norway. Renewables. Tiina Link, Commercial Manager Innovation Norway Tallinn. Innovation Norway. Official Norway’s commercial representation abroad S imilar organisation to Enterprise Estonia
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Business in Norway. Renewables Tiina Link, Commercial Manager Innovation Norway Tallinn
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
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
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
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
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
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
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
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
Renewable energy R&D in the Nordic countries 1976-2010, Million € Source:Norwegian Institute for Studies in Innovation, Research and Education, Innovation Norway
Norwegian energy policy system Source:Norwegian Institute for Studies in Innovation, Research and Education
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
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
Innovation/internationalisation support schemes in Norway Oslo stock exchange Venture capital & private equity Business angel Investment fund for non-EU. Seed fund (Investinnor) Commercial funds Establishment grant INs risk loans Product/services development grant(IFU/OFU) Public funds Research funds Internationalisation grants (INT) Regional development funds Research innovation (BIA/BIP) Commercialising R&D (FORNY) Tax incentives Skattefunn Research/idea phase Development phase Commercialisation phase Growth phase
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
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 programmeswww.norden.no 18
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