Industrial production

In Norway, industrial production is powered by nearly 100 per cent renewable energy, and likely has the smallest carbon footprint in the world. With great emphasis on energy efficiency and new technology, the process industry has reduced its CO₂ emissions by more than 43 per cent since 1990.

Many of the companies operating in Norway are owned by foreign investors and capital. These include, for example, Glencore, Eramet, Ineos and Alcoa. Together with Norwegian companies such as Hydro, Equinor, Norske Skog and Elkem, they make up an innovative ecosystem that also includes strong regional industrial clusters.

Norway produces more renewable energy, primarily from hydropower, than it consumes, and has traditionally had the lowest electricity prices in Europe. This has allowed power-intensive industries to thrive despite being located in a high-cost country.

In a time of increasing focus on reducing greenhouse gas emissions and an expected increase in CO₂ prices, the advantage of powering industrial production with 100 per cent renewable energy is clear. It also means that downstream clients will receive products with a very small carbon footprint.

Many of the companies in the process industry are covered by government incentives, including low or zero electricity tax and a CO₂ compensation scheme. In addition, companies can apply for support under tailored schemes and programmes for technology development and energy efficiency, as well as loans from the new Green Industry Financing Fund, which has a total budget of NOK 5 billion (roughly USD 474 million).

Companies in the process industry are spread throughout Norway, but there are also some major industrial parks, such as Herøya Industrial Park and Mo Industrial Park, and some regional strongholds/clusters.

Given the need for more industrial symbiosis, waste and by-products such as CO₂, oxygen, heat and scrap must be better utilised. There is an ongoing effort to map symbiotic opportunities in every region of the country and we see growing opportunities for new companies for utilising the various side streams.

We have a very good overview of suitable locations and industrial clusters, and we are ready to assist you in the site selection process.