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November 3, 2021

Hordavind Wind Farm, Norway

By Carmen

Hordavind Wind Farm is a 1,500MW onshore wind power project. It is planned in Vestland, Norway. The project is currently in permitting stage. It will be developed in single phase. The project construction is likely to commence in 2023 and is expected to enter into commercial operation in 2024.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Onshore 1,500 1,500 Permitting Vestland, Norway Norsk Vind Energi

Description

The project is being developed and currently owned by Norsk Vind Energi.

The project is expected to generate 5,400,000MWh of electricity. The project cost is expected to be around $2,550m.

The wind power project consists of 235 turbines.

Development Status

The project construction is expected to commence from 2023. Subsequent to that it will enter into commercial operation by 2024.

About Norsk Vind Energi

Norsk Vind Energi AS (Norsk Vind Energi) operates as a renewable energy company that develops wind power and produces energy. It operates on the development, construction and operations of clean renewable wind production. It identifies, develops and participates in the development and operation of wind energy projects. Norsk Vind Energi undertakes the wind power projects from planning to operation. The company provides projects such as Hog Jaeren wind farm, Royrmyra wind farm, Egersund wind farm and Tellenes wind farm, among others. It develops projects in both domestically and internationally. Norsk Vind Energi is headquartered in Stavanger, Norway.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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