Njordr creating a leading Nordic wind company

Njordr is working hard to become the leading greenfield IPP in the Nordics, ideally positioned to drive the next wave of wind development. With a substantial and diversified portfolio of large-scale greenfield projects, highly experienced team, and competitive edge in effective and efficient greenfield development, we seek to accelerate the energy transition in the Nordics. Through our technology, on-the-ground skills, and experience to identify, develop and optimise the best onshore and offshore projects, Njordr is in pole position to create a leading Nordic wind company.

Company established in 2017

Team of 15 experienced professionals across the Nordic region

> 20 GW portfolio in Norway, Sweden and Finland across 35 projects

Diverse portfolio: Onshore wind, offshore wind and industrial integration

Focused on building an IPP through high-return greenfield development

Project map

>20 GW portfolio across 35 projects.

Map last updated on 19. Jan 2023

map showing location of Sjonfjellet in central Norway

Screening

Consultation

Permitting

Onshore: Sjonfjellet, Norway

Timeline

2024

Permit application
‍

2026

FID

2029

COD

Project description

500

MW planned capacity

+8.4

M/s avg. wind speed at HH

+1.33

TWh expected annual production

Onshore

Rock anchor

45

WTG

25

km²

Ownership

Njordr Equity share 62%

Others 38%

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Project map

>20 GW portfolio across 35 projects.

Map last updated on 19. Jan 2023

Map showing location of Project Beta, in south-eastern Sweden

Screening

Consultation

Permitting

Offshore: Project Beta, Baltic Sea

Timeline

2023

Permit application

2026

Permit Approval

2029 - 31

Final investment
decision

2030 - 32

Go-live

Project description

2,460

MW planned capacity

10.0

m/s avg. wind at HH

10.4

TWh expected annual production

Bottom-fixed

Far shore

123

WTG

447

km²

Ownership

Njordr Offshore Wind 100%

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Njordr is perfectly positioned for the Nordic energy transition

The demand forpower is expected to increase significantly in the Nordics in the coming years

Ambitious policies and targets in place in all Nordic countries, ensuring strong growth for Renewables

Wind power, both onshore and offshore is expected to be the main source of additional power supply in the Nordics

Increased power demand and increasing CO₂-prices are expected to result in long-term stable and attractive power prices

Operating across the wind development value chain

Screening

Site identification

Feasability

Site assessment and studies

Consultation / Permit Application

Concession preparation and application

Permit Process

Processing of application

FEED + Financing

Design / layout optimisation, contracting and financing

Construction

Construction management

Operation

Technical and commercial asset management

Backed by owners with a proven record of creating highly successful green businesses

Vanir Green Industries is a Nordic investment company that invests in, develops and scales green, robust and profitable businesses needed to accelerate the energy transition. Driven by a team of experienced professionals with deep industrial competence and a genuine drive to build a more sustainable future. Vanir focuses on onshore and offshore wind development, carbon capture, energy storage and deep decarbonisation of existing industries.

organisational map showing Njordr and Njordr Offshore Wind in relation to Vanir

Onshore

Vision & goals for Njordr Onshore Wind‍

Begin development of first park within 3 years

Have positive operating margin by 2028

Gain geographic footprint in all Nordic countries by 2029

Expanded portfolio of projects at various stages of developmentt

Growing presence in the value chain

Market leader in greenfield development

Full permit obtained for at least four projects

Enhanced organisational capacity

Offshore

Vision & goals for Njordr Offshore Wind‍

NOW seeks to be a leader within Nordic energy production

The primary focus of the company will be production of offshore wind power

Industrial plants supported by green flexible baseload, hydrogen and e-fuel solutions

NOW will actively drive green industry and the creation of green jobs in Sweden

The team

Njordr Onshore Team

Njordr Onshore combines experienced management with local presence. Top management have 5-30 years individual experience with wind, renewables and energy sectors, and are supported by local teams on the ground in Norway, Sweden and Finland. Njordr Onshore operates across the full value chain with experience and competence across development, financing, construction, and operation of onshore wind farms.

Tore Ivar Slettemoen

Chairman of the board

Over 35 years’ experience in project development in the oil & gas and renewable sectors. Responsible for development, PPAs, financing, construction and operation of 500 MW Norwegian wind power. Founder of Freyr Clean Batteries.

John Masvik

CEO

~30 years of experience within energy and renewables, including grid (20 years at Statnett), hydro and wind. Experience in project planning and analysis, new facilities, system operation, maintenance, and market connection. Developed Finnmark Kraft to become a leading wind power company.

Per Richard Olsen

CFO

25 years of experience as CFO in diverse industries. Diverse background which includes leading companies within telecom, technology and investment banking. Also has five years experience in founding and building a tech start-up from early phase to scaleup.

Niclas Erkenstål

Head of development SE

8 years of experience in mechanical engineering and sales within Bombardier Transportation. 10 years of experience in International marketing and sales within ABB Power Systems, with focus on power transmission, distribution and generation systems and products. Country Manager for Senvion wind turbine manufacturer, with +200 MW sales and installations in Sweden and Norway.

Piia Heikkinen,

Head of development FI

4 years at AFRY Finland, last two years as Department Manager for Wind, Solar and New Energy Solutions. Board member of the Finnish Wind Power Association. MSc, Wind Power Project Management, Uppsala University. BSc, Spatial and Social Planning: Project Management and Sustainable Environment.

Helge E. Jensen

Head of development NO

Senior Manager with 28 years’ of experience as a Leader and Manager of national and international businesses. 25 of these years have been spent in the international renewable energy business. LEAN Six Sigma Black Belt certified by General Electric

Njordr Offshore Team

Njordr Offshore has deep experience in early phase offshore wind project development, with a track record from Dudgeon and Dogger Bank, as well as performance monitoring of existing offshore wind farms. The team has advanced technical abilities in offshore wind development, with comprehensive computational resources, state-of-the-art wind and wake models, deep understanding of turbine loads and performance, and a coupled GIS and model environment.

Annelie Brolinson

CEO

Background in science and business management. 10+ years experience from leading positions in growth companies in industries from life science to pulp and paper. CEO for Hemcheck AB, which was listed on Nasdaq First North under her management.

Ove Magne Kallestad

COO

Background in petroleum engineering and high level management positions. Previsously Vice President Early Phase Developments Equinor, Vice President Subsea Engineering Equinor, Vice President Subsea Production and Operations Equinor, Senior Vice President /VP Subsea Services Europe/Africa/Russia, TFMC +1650 employees, Chief Engineer Subsea Technology and Platform Manager Gullfaks B Equinor

Niklas Sondell

CTO

Background in mechanical engineering and physics. 10+ years experience modelling wind- and hydropower plants. Previously at Statkraft and Statoil, including responsibility for layout and design at Dudgeon Offshore Wind Farm and part of Dogger Bank early phase development Forewind.

Rolf-Erik Keck

Senior Project Developer

Background in turbine design, wind park modelling and wind farm yield assessment, and PhD in Wind Farm and Turbulent Wake Modelling from DTU Risø. Previously worked at Vestas and Statkraft, in total 15 years experience in the wind industry - Responsible for the technical assessment and design of Europe’s largest onshore wind park.

Måns Håkansson

Senior Project Manager

PhD in Meteorology / Atmospheric Sciences from the Department of Meteorology. 15 years experience in the wind industry: Previously worked at Vattenfall and Statkraft. Responsible for the technical assessment and design of Triton Knoll Offshore Wind farm.

Niclas Erkenstål

Senior Project Manager

Project manager for Project Beta.

Contact

CEO

John Masvik

john@njordr.no

+47 474 87 723

HQ/Adress

Jonas Lies gate 5

2000 Lillestrøm

Norway