Norsk Hydro’s renewable energy business division Hydro Rein has secured the partnership of one of the largest and oldest landowners in Norway, the Norway Church Endowment or Opplysningsvesenets fond (OVF) to build 655 MW of solar PV capacity.   

Established in 1821 and subject to the Norwegian Ministry of Children and Families, OVF manages property that dates back to the Middle Ages and linked to the local parishes. It says several of these locations offer good solar conditions and sit close to industry sites. OVF also develops and operates small hydro power projects through Clemens Kraft.  

To be executed by a joint venture (JV) Geisli Energy AS, solar projects will be sited in selected locations with their size ranging between 20 MW and 100 MW. Once online, the entire 655 MW capacity is expected to generate 330 GWh annually with a potential for an additional 400 GWh/year. Hydro Rein will own 49.9% and OVF 50.1% stake in the JV.  

“OVF is already well established within hydropower through Clemens Kraft. Now we are also excited to develop solar power on OVFs properties and secure more renewable power for the green transition,” said OVF CEO Ole-Wilhelm Meyer.  

Hydro Rein will be responsible for project development and construction of the solar power plants.  

The Norsk Hydro subsidiary has a diversified portfolio of 26 projects under development in the Nordics and Brazil. The JV with OVF is part of its plans to have 3 GW capacity in construction or operation by 2026.  

Back in November 2022, Hydro Rein launched a JV with Commerz Real for 1 GW utility-scale PV capacity in Denmark (see 1 GW Solar Partnership Announced In Denmark).