Open a Company in the Energy Sector in Norway
Open a Company in the Energy Sector in Norway
Updated on Friday 23rd November 2018 Rate this article
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When opening a company in Norway in the energy sector there are several aspects that need to be known. For example, the country is one of the world’s greatest oil and gas producers, and one of the main exporters of oil. Furthermore, the country is highly developed with regards to the energy obtained through hydropower plants, being amongst the world’s top countries in this matter. In terms of energy consumption in Norway, the largest consumers are represented by the industry sector, the transportation industry and buildings; our team of Norwegian lawyers can assist businessmen with in-depth advice on the main rules of law regulating the energy industry in this country, and may also provide legal assistance on the business permits necessary for this field of activity.
How can an investor enter the Norwegian energy sector?
It is compulsory for any businessman who wants to enter the Norwegian energy sector to obtain specific licenses and mandatory documents, in order to perform their operations in the country following the applicable legislation. Some of the main requirements that are imposed to any energy operator in Norway are presented below:
- • obtain a concession, in the case of businesses that are set up as hydropower plants, wind power plants, power lines and others;
- • obtain a license, provided that a businessman acquires ownership or shares in a company;
- • an additional license is required in the case of companies developing waterfalls, as per the Water Resources Act;
- • the construction and the operations of all installations designed to generate electricity will require a license;
- • companies will also need a license in the situation in which they sell and trade energy, following the provisions of the Energy Act.
Who is the main regulator of the energy sector in Norway?
All Norwegian businesses operating in the energy sector are regulated by the Norwegian Water Resources and Energy Directorate. The institution is in charge with the regulation of the electricity and gas market in Norway, as prescribed by the Energy Act. Our team of lawyers in Norway can provide businessmen with legal assistance on the regulations of this rule of law.
The country actively sustains the development of investments in renewable sources of energy, by issuing electricity certificates, that were launched in 2012 (in a joint project started with Sweden). Businessmen are invited to contact our law firm in Norway for in-depth information concerning the Norwegian electricity certificates; our lawyers may assist in any other legal matters related to the local energy sector.
