Vårgrønn is an agile, Norway-based offshore wind company powering the energy transition through development, construction, operation, and ownership of offshore wind energy and infrastructure. Our ambition is 5 GW installed and sanctioned offshore wind capacity by 2030 in the Northern European market.
The global market for offshore wind is growing significantly and continuously new areas are opening up for large-scale offshore wind production. Excellent wind conditions makes the North Sea particularly suitable for Vårgrønn's offshore wind development plans.
Vision 50GW in 2050, a socio-economic analysis conducted by Thema Consulting on behalf of Vårgrønn and its partners, shows how offshore wind in Norway can generate large amounts of renewable power to the European markets, creating an employment effect of up more than 50,000 FTEs and a market for goods and services exceeding NOK 100 billion annually in Norway towards 2050.
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Vårgrønn is a joint venture between the global energy company Plenitude (Eni) and the Norwegian energy entrepreneur and investor HitecVision.
HitecVision is a Norwegian private equity fund manager and serial entrepreneur. With EUR 7 billion in capital under management, the firm is a leading investor in the European energy sector. Over the past 25 years, HitecVision has established or contributed to the development and growth of more than 200 companies. In recent years HitecVision has focused on opportunities in the energy transition, where collaboration with established industrial players is an integral part of the company’s business model.
Plenitude is the outpost of Eni’s decarbonisation strategy. With a solid base of approximately 10 million customers, the company integrates the retail of power and gas with renewables production, energy efficiency services and electric mobility. It currently operates in Italy, France, Greece, Slovenia, Spain, Portugal, UK, Norway, US, Kazakhstan and Australia. The company aims reaching carbon neutrality by 2040 and supplying 100% decarbonized energy to all its customers.
Vårgrønn aims to develop offshore wind across Northern Europe. Together with our partners, we are well positioned and strongly committed to developing an offshore wind industry in Norway and beyond:
Vårgrønn has a 20% interest in the Dogger Bank (UK). Once completed in 2026, Dogger Bank will be the world’s largest offshore wind farm. The three phases of the project (A, B and C) will have a combined installed capacity of 3.6 GW. At Dogger Bank, Vårgrønn is partner with Equinor and SSE.
Vårgrønn has formed a consortium with Å Energi (a merger of Agder Energi and Glitre Energi) and Corio Generation (formerly Green Investment Group) that will bid for a site in the Sørlige Nordsjø II area in Norway.
Vårgrønn has teamed up with Equinor to develop floating offshore wind at Utsira Nord in Norway.
Vårgrønn and Flotation Energy have formed an offshore wind partnership to support oil and gas electrification and decarbonisation in Scotland for the upcoming INTOG-tender.
Vårgrønn has acquired several early-stage initiatives in Vårgrønn’s key markets from our owner Plenitude.
We have ambitious growth plans and will be expanding our team. If you are interested in joining our team, we would love to hear from you.
You can submit an open application by sending your CV and a cover letter to Julie Higgins, Team coordinator offshore renewables at Taylor Hopkinson:j.higgins@taylorhopkinson.com.
The global energy company Eni and the Norwegian energy entrepreneur and investor HitecVision are today announcing the establishment of a new joint venture company VårGrønn, which will focus on renewable energy projects in Norway. This also marks the start of a broader strategic partnership.
VårGrønn is built on the long-term partnership between Eni and HitecVision that has created Vår Energi, one of the largest and fastest-growing oil and gas producers on the Norwegian continental shelf [and the whole of Western Europe]. Like Vår Energi, the partnership between Eni and HitecVision will offer VårGrønn the strengths of a global energy giant combined with local knowledge, access to capital and entrepreneurial culture and drive.
VårGrønn aims to become a major company within development, construction, operation and financing of renewable energy projects in Norway. As a first step, the company will pursue opportunities in the offshore wind space linked to the electrification of offshore oil and gas installations and participate in the upcoming Norwegian tender processes. The company will thus support Vår Energi’s ambition to reduce climate emissions and contribute to the electrification of the Balder and Grane fields in the “Utsira Nord” area offshore Norway.
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VårGrønn is a Norway-based renewable energy company. We aim to develop, construct, operate and finance green energy and infrastructure projects in the Nordic market.
Our ambition is to reach an installed capacity in the region of 1 GW by 2030.
By allowing private companies to submit license applications for offshore renewables, the Norwegian Government has signalised an important step towards creating a domestic offshore wind industry. HitecVision is the largest private sector investor in the Norwegian oil and gas industry, and has announced an ambition of also becoming a major contributor to the energy transition through future investments in renewable energy and infrastructure.
“As a global leader in offshore operations and a major energy nation, Norway is in a position to develop a leading offshore wind industry and unlock significant value creation. We see this opportunity as an attractive investment case,” says Ole Ertvaag, CEO and founding partner of HitecVision.
