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POWER: Norway Demand to Double to 260 TWh/yr by 2050, Net Importer by 2030's

POWER
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 Norway's electricity demand is forecast to double to 260 TWh/yr by 2050, driven by growing needs across households, industries, transportation, and data centres, risk management firm DNV said.

  • By the early 2030s, Norway is projected to face a 10 TWh/yr power deficit, becoming a net importer of electricity.
  • Onshore and offshore wind are the only viable scalable options for new power production, with 13GW of onshore wind and 21GW of offshore wind expected by 2050.
  • However, Local opposition and slow permitting processes are delaying onshore wind projects, while high costs are slowing offshore wind development.
  • Additionally, Norway is not on track to meet its emissions reduction targets, with a forecast of only 27% reduction by 2030 and 75% by 2050.
  • And due to high costs and poor fit with the energy system, nuclear power is not expected to be part of Norway’s energy mix by 2050.
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 Norway's electricity demand is forecast to double to 260 TWh/yr by 2050, driven by growing needs across households, industries, transportation, and data centres, risk management firm DNV said.

  • By the early 2030s, Norway is projected to face a 10 TWh/yr power deficit, becoming a net importer of electricity.
  • Onshore and offshore wind are the only viable scalable options for new power production, with 13GW of onshore wind and 21GW of offshore wind expected by 2050.
  • However, Local opposition and slow permitting processes are delaying onshore wind projects, while high costs are slowing offshore wind development.
  • Additionally, Norway is not on track to meet its emissions reduction targets, with a forecast of only 27% reduction by 2030 and 75% by 2050.
  • And due to high costs and poor fit with the energy system, nuclear power is not expected to be part of Norway’s energy mix by 2050.