Using solar energy as the primary example, Thina Saltvedt showed how market outlooks historically are too defensive when estimating the actual development and implementation of new technology.
“Predictions made just a few years ago have proven to be very wrong. The solar industry matured much faster than anyone thought possible. We will likely see the same development within offshore wind,” said Saltvedt.
The former oil-and-gas-analyst, who transitioned into a sustainability and renewables analyst at the Nordic banking giant Nordea a few years ago, was one of the key speakers at an offshore wind mini seminar in Kristiansand Wednesday.
Saltvedt also touched on how the outcome of the US election will influence the speed of the green transition (Harris will accelerate, Trump will decelerate), and how the Norwegian government will have a hard time living up to its ambition to cut 55 per cent of domestic emissions.
“Investments in the global energy transition continues to increase despite inflation concerns and supply chain bottle necks. China is responsible for half of global investments,” said Saltvedt – adding that solar energy has the highest growth in the renewables sector, followed by onshore wind and offshore wind.
“In 2024, offshore wind investments will surpass onshore wind investments,” said Saltvedt.
The mini seminar hosted by Deloitte, Nordea and Fremtidens Havvind, also offered presentations from Eksfin and Parkwind. Anne Knausgård, Country Manager at Parkwind presented the company’s plans for development and construction of the first Norwegian offshore wind farm at Sørlige Nordsjø II.
Repeating that “Agder is the host county for Sørlige Nordsjø II”, Knausgård said Norway has extensive experience from complex offshore operations within oil and gas.
“At Sørlige Nordsjø II, we will build on this experience. Still, there are some major differences between oil and gas and offshore wind. We offer lower margins and thus rely on suppliers that are highly efficient while operating in a safe manner,” said Knausgård.
