Building the future in an uphill climb

The energy transition is facing headwinds. Investments in renewables are dropping, and major players are doubling down on oil and gas. But despite the tough outlook, Tor Arnesen, Chair of Energy Transition Norway, is focused on the road ahead.

He says the ambition of a net-zero future hasn’t disappeared - it’s just facing a steeper climb. And according to Arnesen, that’s exactly why the cluster’s mission is more important than ever.

- We’re seeing large companies delay or abandon renewable energy projects like offshore wind, and that has ripple effects throughout the entire value chain, he says.

The result? Uncertainty. Innovation put on hold. Startups questioning if there’s a future for what they’re building.

- That’s understandable, Arnesen admits. - But if we look back, history shows us that it’s in difficult times that real innovation tends to emerge.

A bigger toolbox, a tougher market‍

When Energy Transition Norway was founded as Norwegian Energy Solutions seven years ago, oil prices were low and the industry was looking for new business models. The Paris Agreement had just been signed, and the world was asking: How do we deliver energy that is clean, reliable, and affordable?

– That question is just as relevant today, Arnesen says. The difference is that we now have a much bigger toolbox to work with.

The role of the cluster is to support development, piloting, financing, scaling, and growth. Arnesen works hard to ensure that Norway’s competitive advantages in oil and gas are carried forward into a national “super cluster” focused on the energy transition.

That’s where Blått Kvantesprang Energi comes in as a key to achieving this.

– Oil and gas prices are still relatively high, but are likely to fluctuate significantly in today’s turbulent times. That means the predictability for energy investors is weaker. So now, it’s about holding on to what works - and strengthening collaboration across regions, Arnesen explains.

– We made a solid effort in 2024, engaging with authorities and policymakers to secure government support for Blått Kvantesprang, but we didn’t quite succeed with the Ministry of Energy. We’re now in dialogue with the Ministry of Trade, Industry and Fisheries (NFD), and hope for better results there - especially as NFD oversees Innovation Norway and is preparing a new industrial policy this year, Arnesen says.

He adds that they are also actively working to boost private funding, which is essential to unlocking public support.

A fragmented effort won’t win global markets‍

Today’s global uncertainty - war, economic turbulence, shifting energy policies - means that clean energy, security, and resilience are more interconnected than ever. At the same time, price volatility makes investment riskier.

– To compete globally, we need better collaboration nationally, Arnesen explains. We must keep doing what works - and do it together.

That’s why Arnesen warmly invites all members to attend the joint cluster gathering organized in partnership with GCE Ocean Technology at Sola Strand Hotel on May 13.

There, participants will explore new opportunities, share insights, build connections, and strengthen the collaboration that is so crucial right now.

‍

Read more and sign up for the event

‍