Renewable energy and infrastructure are key areas for DNB, both in Norway and internationally. Wind power is an important part of this commitment.
DNB will be a driving force for sustainable transition by financing and facilitating sustainable activities to a value of NOK 1 500 billion up to 2030.
Renewable energy and renewable infrastructure are an important part of this, and are crucial to reducing climate emissions and our overall transition to a low carbon society. We lend money to customers who have wind power projects both on land and at sea, and most projects are outside the Nordic region. In addition to debt financing, we help our customers collect equity.
When choosing which companies to help, we consider not only financial factors, but also how the customer safeguards environmental and social factors, and that they have good ownership management. For wind power projects, we also place emphasis on the developers’ own assessments being thorough and that they have good dialogue with all relevant stakeholders, to ensure a sound business case.
If we believe that one of these factors is not adequately addressed, we will not support the company or the project.
In Norway, there has been extensive debate about wind power, and we are often asked about DNB’s role. We see wind power as a natural part of the energy mix in most of the countries in which we operate. Wind power also often represents the most affordable option for carbon-free energy. This is important for consumers, who pay for the electricity.
In Norway, we have a thorough permit process for wind power, which is handled by the Norwegian Water Resources and Energy Directorate/Ministry of Petroleum and Energy, and which ensures there is a satisfactory basis for building and operating a wind farm. We also support the ongoing initiative to further improve the permit process.