KONGSBERG Increasing its Ambitions Within Renewable Energy
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This news is classified in: Sustainable Energy Wind

Oct 17, 2022

KONGSBERG Increasing its Ambitions Within Renewable Energy

Kongsberg Gruppen (KONGSBERG) establishes «Kongsberg Renewables Technologies» and strengthens the group's investments in renewable energy. The ambition is double-digit NOK billion income by 2030 for the group in total.

“KONGSBERG is a leading global ocean space company with technology and solutions that are crucial for the sustainable management and utilization of the oceans. We will play a central role in enabling a faster, more cost-effective, and sustainable scale-up of renewable energy offshore”, says Geir Håøy, CEO of KONGSBERG.

Kongsberg Renewables Technologies is established to strengthen the group's offering and presence within the renewables sector. The company will be wholly owned by KONGSBERG with CEO Geir Håøy as chairman. Kongsberg Renewables Technologies will particularly focus on solutions for the production of renewable energy offshore, but also energy management systems and adjacent parts of the value chain to enable a significant scaling up and roll-out of renewable energy. The company will strengthen KONGSBERG's existing investments in offshore wind as well as add new capabilities.

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Ambition of significant income contribution by 2030
KONGSBERG is already a significant player in offshore wind and has domain and technology expertise in areas such as marine systems, marine operations, energy management, seabed- and environmental mapping and monitoring, as well as digital solutions for monitoring and managing industrial processes. The establishment of Kongsberg Renewables Technologies will further strengthen the group's technology development and domain expertise, while also adding new strategic opportunities for future growth.

“In 2021, KONGSBERG's order intake from offshore wind and the renewable segment grew to more than NOK 1.5 billion. That growth has continued in 2022, and we see increased demand for both existing solutions and for the development of new technology and new solutions. In particular we see strong demand from floating offshore wind, which faces significant technology development and increase in roll-out in the years ahead”, says Håøy.

“The ambition is for KONGSBERG to have double-digit billion group income from offshore wind and the renewables segment by 2030. This entails stepping up our search for the best and brightest talents in this industry, and to assess strategic opportunities through alliances and acquisitions. This will strengthen existing investments and what we are already doing within the renewables segment in our established business areas, whilst adding new capabilities to further accelerate growth in the business areas”, says Håøy.

Global reach
KONGSBERG is present in more than 40 countries. Around 80 per cent of the group's turnover originates from ocean-related activities. Egil Haugsdal, outgoing president of Kongsberg Maritime and former head of both Kongsberg Oil & Gas Technologies and Kongsberg Protech Systems, will lead the new company with his more than 30 years of industrial experience.

“Egil brings important industrial experience, and broad knowledge of the group's technology and domain expertise relevant for renewables and offshore wind. I am very happy that Egil has agreed to lead this important strategic venture for KONGSBERG”, says Håøy.

“I very much look forward to developing the opportunities KONGSBERG has within the renewables segment. We will be central to the development of offshore wind in Norway and contribute to Norway achieving its goals and ambitions. As a global technology company, we are also closely engaged with markets outside Norway that have significant investments and scale in offshore wind and renewables. KONGSBERG therefore has very good prerequisites for creating a significant renewables-based export industry”, says Egil Haugsdal, incoming head of Kongsberg Renewables Technologies.


Kongsberg