Now he also wants to let the sun in on his green project – E24

Now he also wants to let the sun in on his green project – E24

Industry Minister Jan Christian Pfister will also include solar energy and manufacturing in the government’s green initiatives. However, he promises that his goal is still the least possible support from the state, and not the other way around.

Industry Minister Jan Christian Vestre (AP) wants to include solar energy and manufacturing as areas where the country will contribute to a faster green transition.
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It’s been a year since the introduction of the government green industrial elevator. There is a widely announced restructuring of the Norwegian industry with seven specific investment areas (see factbox).

Now the business secretary is soon ready to upgrade green plans to version 2.0.

– The government will introduce green industry 2.0 upgrading during the summer. Then we introduce two new industries as investment areas. One is solar, Pfister says, and the other is manufacturing.

Then he also promised to review the status of the 100 measures that he and Prime Minister Jonas Gahr Storr put forward in June last year.

– We will review our procedures. In view of the experiences we gained in the first year, we may adjust some of them.

The new word “risk mitigation”

When Vestre Green industrial elevators Last year, it was estimated that a state contribution to fulfilling the promise would require NOK 60 billion by 2025.

These billions are something Norwegian businessmen and politicians have liked to call “risk mitigation” in recent years.

This new word states that the state should contribute either direct grants or loan guarantees, loans or shares to green projects.

It would be appropriate in green projects that private actors would not otherwise find profitable or justified in terms of the risk in carrying them out.

An increase of 60 billion?

– Is it appropriate to increase the increase from the 60 billion that you previously estimated until 2025?

– I already said last year that NOK 60 billion is an estimate. It could be more, it could be less. Pfister replies that the basic premise is to channel as much private capital as possible.

Since last year, the costs of many existing green projects in Norway have skyrocketed. This applies to both offshore wind and carbon capture and storage.

At the same time, the United States attracts many green industries, such as the battery industry, with far more subsidies than even the greenest politicians in Europe could dream of.

Jan Christian Vestry dismisses that by including two additional investment areas in the Grønt industriløft, he is trying to copy the old Ap motto “everyone must join”.

You will avoid support races

So the development clearly indicates that Pfister will have to raise its estimates by a billion when it introduces its 2.0 version over the summer. But he is not ready to say anything about that now.

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Pfister estimates that NOK 20 billion has been allocated so far.

– There is no goal for the state to reduce risks as much as possible. The goal for us is to reduce risk as little as possible. It cannot be that taxpayers will bear the main cost of this green transition.

– It was good to hear. But is it risk mitigation or profitability mitigation for the people you contribute with?

No, it’s usually connected. But we do it the way it was good in Norway, not primarily by subsidizing production. Pfister replies: We shouldn’t spoil it by participating in the international aid race.

Highest pay and most support

E24 on Wednesday can tell it is It becomes tens of millions of kroner in board fees and senior management salaries At battery company Freyr this year, too.

This happens even though Freyr would rely entirely on substantial government subsidies to build a battery factory at Mo i Rana.

Freyr promised NOK 4 billion in loan guarantees if the company built the plant. But since Farrere promised more in the US, the company is now demanding a larger contribution from Norway.

Freyr is the company that has so far promised the most state kroner in so-called risk mitigation and that simultaneously has the highest board fees and senior management salaries in a special class.

Battery pack before a joint holiday

So, are you concerned about the status of green elevators?

– I feel that the lever of the green industry is strong. This is not about one company, but about tens of thousands of small, medium and large companies in Norway, Pfister replies, but also adds:

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– I think all companies should think about their wage policy. There are relatively small differences in wages in Norway compared to many other countries. The Norwegian model has served Norwegian business very well.

Freyr and other battery companies in Norway don’t have to wait through the summer for Grønt industriløft 2.0, to see if Vestre will respond to the US subsidies.

Early next week, Vestre will likely put some upgraded battery pack on the table.

Hanisi Anenih

Hanisi Anenih

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