OSLO, Norway – Eni and Norwegian investment group HitecVision have established Vårgrønn, a joint venture company targeting new green energy projects in Norway and the wider Nordic market.
The joint venture builds on the company’s existing partnership that led to the creation in 2018 of Vår Energi, now one of Norway’s leading E&P companies.
Vårgrønn will support development, construction, operation and financing of renewable energy projects in Norway, initially pursuing openings in the offshore wind sector through participation in upcoming Norwegian tender processes.
It will also support Vår Energi’s goal of cutting its emissions through electrification of its upstream assets.
Vårgrønn’s long-term ambition in renewables is to achieve an installed capacity in the region of 1 GW toward 2030, Eni added.