⁍ Onshore wind companies provided the largest revenue stream for the Norwegian renewables industry in 2019, overtaking hydropower.

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⁍ Total Norwegian renewable industry turnover, excluding the production and sale of power and heat, reached a record-high 45.1 billion crowns ($4.89 billion) last year.

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⁍ Onshore wind is a new source of energy for the Nordic country which has, for decades, relied on hydropower to produce nearly all of its electricity.

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– For decades, Norway has relied on hydropower to produce nearly all of its electricity. Now, however, a new industry has taken over: onshore wind. According to a report published Friday, onshore wind companies last year took in the largest revenue from sales of equipment, construction, and consultancy services, beating hydropower for the first time, Reuters reports. Total turnover for Norway’s renewable energy industry, excluding the production and sale of power and heat, hit a record high of $4.69 billion in 2019, up nearly 30% year-on-year. Offshore wind took in the second-largest revenue with $11.58 billion, while hydropower brought in $8.8 billion. Solar power brought in $6.3 billion and bio energy $2.4 billion. However, the authors of the report say that by 2022, the country’s subsidy scheme for onshore wind will be winding down, and there will be no new permits issued due to growing opposition. Meanwhile, offshore wind revenues stemmed mostly from exports and subsidiaries outside of Norway, with no domestic wind farms built to date. Still, the sector is seen as a new business target for the country’s dominant oil and gas industry as it seeks to keep up with the global energy transition. To incentivize the switch, the Norwegian government in June announced it would accept applications to build up to 4.5 gigawatts of offshore wind in two North Sea areas from 2021. Turnover from Norwegian oil services firms totalled 397 billion crowns in 2019, showed a report from Rystad Energy commissioned by the government.