The energy sector in Norway is, by far, the most important industry in our country.
Of course, our big wealth has been created from oil and gas,
but I don't know, maybe a city for someone is that hydropower,
today almost gives us all the electricity that we have.
Fossil energy creates enormous emissions today
and it will be impossible to achieve the climate goals in the Paris Agreement
without a full transition into renewable energy
and replacing all those fossil fuels.
So, we really need the energy sector to be
the most important part of the solution going forward,
by developing technologies that promote
sustainability, and a net-zero community for the whole reduction.
Agder Energi we are a manager, a distributor, a producer,
and also a retail electricity provider for consumers in the
Norwegian and in the Nordic Balkans.
And, this will remain the core of our business going forward.
But recently we have also taken several initiatives,
to develop new possibilities and business developments in this transition.
So, both on offshore wind, on batteries, on hydrogen,
we want to be a player, to really be a part of the
future solutions for Europe, and for the Nordics.
We believe in vertical integration, and that is to be in the full value chain,
because to have competence around the whole renewable energy system,
that will be a competitive advantage going forward.
Our main purpose is that we provide clean energy
for a sustainable society, now, and in the future.
To reach that goal we also need to be a leading region energy company,
fully focused on sustainability and renewable energy.
I believe that we cannot achieve a sustainable transition
unless the energy sector plays a key role.
Increasing the amount of renewable energy into the energy supply mix,
electrification and digitalisation are all key drivers of the energy transition.
With ninety six percent of our electricity coming from renewable sources,
Norway has a unique starting point for establishing
new sustainable industries, and developing
new systems required to reduce carbon emissions,
and mitigate the effect of the climate change.
That is why Agder Energi is developing a concept
for using our surface hydro-power to produce green hydrogen
to export for the European market.
Norway is ideal due to the unique access we have to stable
and flexible renewable energy in the form of hydro-power.
And, a special feature of the Norwegian hydro-power
is the ability to store energy.
We can store water in our reservoirs until needed,
and we can regulate our reservoirs so we can
provide short term flexibilities within an hour,
or long term flexibilities within days, weeks, or even seasons.
And in Norway, we have half of Europe's storage capacity,
and over seventy five percent of our production capacity is regulated.
I think the core, or the very heart of sustainability
is about meeting the needs in the present,
without compromising the ability of future
generations to meet their own needs.
Modern societies would not be the same without reliable
access to electricity, and as societies across Europe
aim for electrification and replacing fossil fuels.
In many industrial processes,
that's transport systems, buildings, we become even more
dependant on our access to power.
So, contributing to the availability of clean energy
adds purpose to our business here in Agder.
For us as a producer, distributor and manager
of renewable energy, we have a key role to play,
but we do not have all the answers.
The development of the energy sector is complex,
and in partnership with other players
who have complimentary expertise
we can achieve more, rather than going solo.
Morrow is located in a fantastic place,
the southern part of Norway.
We name it the battery coast.
Morrow is here to develop and manufacturer
the most cost effective and sustainable
batteries in the world.
Agder Energi is an active, supportive
owner, one of the key players
supporting energy to Norwegian consumers and industry.
Agder is, first of all, a kind of important partner to us.
They are supporting us, they are making accessible
hydro powered green energy.
Morrow is working hard to get not just carbon neutral,
we will bring a positive effect.
We have an enormous ambition to be
sustainable in all dimensions.
That is our passion, and also our clear purpose.
So, we will have a focus on the technology
development to get there.
To drive this transformation, the energy sector is not enough.
We need to play together with all different
partners to make this wind transition happen.
So, now I really see that there is a possibility for us to succeed,
to get to a net-zero society in 2050.
Together we're building new, renewable energy.
There is also a very important task
to take care of the nature at the same time.
And I think that's an important part, and an important focus
for business leaders and politicians
to develop more hydro-power
and to have the concessions on hydro-power that we already have.
We need to do that in a sustainable way
together with the local communities,
with sustainable and healthy rivers,
and I think we already are way ahead of that area,
and that will be an important focus also for us going forward.