Drafting and negotiating CO2 storage agreements presents several challenges due to the complex nature of this greenfield industry. Well-drafted CO2 storage agreements are crucial in ensuring successful carbon capture and storage (CCS) projects.

The Norwegian Ministry of Energy recently introduced new regulations requiring mature projects to be prioritised in the grid capacity queue.

The Norwegian Water Resources and Energy Directorate (NVE) has completed a strategic impact assessment of three of the 20 offshore areas identified as potential sites for offshore wind development in Norway. NVE recommends to increase capacity in the Vestavind F area, to open a new project area in Sørvest F, and to defer any developments in Vestavind B for the time being.

SKM Market Predictor AS (now TGH Holdings AS) has entered into an agreement to divest its energy markets analysis business to Montel AS.

In the first edition of our newsletter, we will take a closer look at Norway's legal framework for nuclear power, and assess whether the regulations are suitable for the establishment of nuclear power in Norway.

On 6 December 2022 the Norwegian Ministry of Petroleum and Energy (the "Ministry") announced that it intends to open the offshore wind tenders for phase one of the Sørlige Nordsjø II area and for the Utsira Nord area in the first quarter of 2023, and published the proposed criteria and format for the tenders.

On 30 September 2022, the offshore energy sector got one step closer to the starting block, as the Government submitted a proposal for changes to the Norwegian Offshore Energy Act to the Norwegian Parliament (the Proposition).

Renewable Energy and Green Investments

China

Partner, Global Head of Renewable Energy

Tormod is Global Head of Renewable Energy. He headed up the firm's Shanghai office from 2013-2016.

Tormod assists Norwegian and international clients in the renewable energy sector. His main areas of expertise are acquisitions, financing, negotiations and regulatory requirements within the electricity sector. Tormod is highly regarded for his skills and expertise in i.a. Legal 500 (Renewable Energy) and IFLR (Project Development), and the firm's Renewable Energy department is considered to be among the most prominent in Norway in particular for acquisitions, project development, investments and joint ventures in clean tech and PPAs. Tormod has headed many complex transactions and projects. Tormod also has extensive experience form energy sourcing, physical PPAs, financial PPAs and PPAs with sleeving structures.

Oslo

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Tormod assists Norwegian and international clients in the renewable energy sector.