improved building insulation which would reduce the

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Unformatted text preview: han other renewable energy sources. But a report presented by the Norwegian Energy Council on May 26, 2008 shows that within a period of 10 years offshore 77 Statens pensjonsfond (Government Pension Fund-Global), 2006. Available on: <www.regjeringen.no/nb/dep/fin/tema/Statens_pensjonsfond.html ?id=1441>. 59 © Ifri F. Harbo / The European Gas and Oil Market wind-power will become profitable.78 This will, in turn, make it a major Norwegian export industry to Europe. It costs between EUR 2.5 and 3.5 million per installed MWh of offshore wind-power. The Norwegian Energy Council states in the report that Norway should have access to 40 TWh of renewable energy sources, of which half comes from offshore wind-power. The total investments needed to achieve this will be between EUR 12 and 28 million. If Norway is able to reach this amount of renewable energy output, the reduction in CO2 emissions will be up to 20 million tons annually. Norway has to work hard in order to achieve these goals, since the output of wind-power i...
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