By utilizing offshore wind resources in the North Sea, Seagust will develop more renewable energy and build a stronger Norwegian supplier industry. Seagust believes that a strong home market is key in the development of Norwegian technology and competence, which could later be exported.
Access to offshore and wind competence, and also to substantial financial capacity, provides Seagust with a unique starting point for developing new renewable energy in the ocean space.
The European Union estimates that 450 GW offshore wind must be installed globally by 2050 in order to reach the goals in The Paris Agreement. This is up from 30 GW at the end of 2020.
Ferd and Arendals Fossekompani are two large, Norwegian industrial investments companies, with a clear green profile and a track record for developing Norwegian industrial companies through long-term and stabile ownership.
Representing the best of the Norwegian industry sector, Seagust has a very relevant network of companies.
Through its portfolio companies, Ferd is a significant investor in the energy transition. For example, Ferd is a major shareholder of Aibel, one of Norway's largest offshore-oriented suppliers. Through its active ownership, Ferd is a driving force in gradually transforming Aibel from an oil and gas supplier to a leading renewable energy player, for example through active relationships with other of Ferd's portfolio companies, such as the innovative concept developed by Wind Catching Systems.
Seagust builds on the competence of Volue, an Arendals Fossekompani portfolio company.
Volue is a technology provider with unique insight into the European power market and state-of-the-art tools for analyses and power trading. This enables a financial sustainable transition from fossile fuels to renewable energy sources.
Seagust’s management, headed by CEO Simen Elvestad, has extensive experience from earlier offshore wind projects, from start to finish, as well as from other power projects and industries.
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In February 2022, Seagust formed a
joint venture with Vattenfall to bid for
offshore wind areas in Norway’s
upcoming licensing rounds,
representing Vattenfall’s entry into the
Norwegian wind market.