Oslo, Norway – Building on the success of their close working relationship, The Renewables Consulting Group Ltd (RCG) and Æge Energy AS (Æge Energy) will now go to market as RCG Nordic, a world-class renewable energy advisory for the Nordic region.
RCG and Æge Energy had signed a memorandum of understanding establishing the business alliance in July. The two firms have now inked a joint venture agreement.
Headquartered in Oslo, Norway, RCG Nordic provides integrated market intelligence, management consulting, and technical advisory services for the renewable energy sectors in Norway, Sweden, Denmark, Finland and Iceland – but with global scope and reach. Dan Pearson, RCG’s Chief Strategy Officer will chair RCG Nordic and Æge Energy’s Tor Inge Vevatne will serve as the joint venture’s General Manager.
The joint venture will focus its business development and operations on both onshore and offshore renewable energy sources. To support maritime and offshore energy clients, the firm will have a strong presence in Bergen.
RCG Nordic represents the combined capabilities of Æge Energy’s local presence and RCG’s renewable energy sector expertise and strong global industry relationships to bring tremendous value to clients within the region.
Dan Pearson, Chairman of RCG Nordic said,
“RCG Nordic will be a leader in renewable energy advisory in the region and presents significant opportunities to provide clients with an enhanced value proposition. The combined attributes of RCG and Æge Energy answer the growing demands of clients in the region to support complex renewable energy assignments.”
Tor Inge Vevatne, General Manager, RCG Nordic added,
“We look forward to growing the combined business, with a commitment to serving clients in the region and exceeding their expectations to deliver material results. The team has already secured substantial new engagements. Our mission is to be the number one renewables advisory firm in the Nordics.”
Caption: Tor Inge Vevatne, General Manager, RCG Nordic
Several Baltic countries have signed a joint declaration of interest to facilitate offshore wind generation, enhance system planning and buildout the region’s transmission and grid infrastructure.
According to the Baltic Energy Market Interconnection Plan (BEMIP), the countries of Denmark, Germany, Estonia, Latvia, Lithuania, Poland, Finland and Sweden are working jointly to achieve an open and integrated regional electricity and gas market in the Baltic Sea region. Norway participates as an observer.
Among several measures, the BEMIP aims to:
“The BEMIP is the high-level umbrella under which emphasises that a significant increase in offshore energy can be most efficiently achieved through a cooperative, regional approach,” explains Dan Pearson, RCG’s Chief Strategy Officer.
Offshore wind production is seen as an important measure in meeting national renewable deployment targets and the European Union’s (EU) climate neutrality objectivity by 2050.
The potential EU contribution of offshore wind energy by 2050 will amount at least 20 times today’s installed capacity of 12 GW, making it a crucial pillar of the energy mix.
In the Baltic Sea alone, estimates show the potential for offshore wind could reach 93 GW.
The Baltic countries maintain that a cooperative, regional approach to energy is the optimal approach to reaching the potential. For example, the member countries have pledged to cooperate on identifying potential joint and hybrid projects across the Baltic Sea and fostering their development. Notably, the member companies will work toward a potential EU enabling framework to overcome barriers.
“Since 2009 the EU and the Baltic States have been building momentum in order to form a common goal on energy interconnectivity to address pressing matters relating with security of supply and climate change,” notes Pearson, who oversees Oslo-based RCG Nordic, an RCG partner company.
“RCG and its partner company RCG Nordic have a great deal of experience in assisting clients in both connectivity and offshore wind in the region and are excited by the significant potential (93GW) that offshore wind in the Baltic Sea could bring to Europe’s energy mix,” Pearson explains. “Our company is especially well-positioned to help clients take their projects from ‘greenfield’ site identification through financial investment decision and beyond.”
By Spring 2021, the BEMIP calls for each Baltic Sea Region country to establish an offshore wind development work programme in accordance with the EU’s National Energy and Climate Plans and renewable energy production mandates.
Baltic Sea offshore wind joint declaration of intent signing ceremony (Picture credit: Ministry of Energy of the Republic of Lithuania)
Baltic energy market interconnection plan (European Commission, accessed Nov 2020) [↑]
Baltic Sea offshore wind joint declaration of intent (30 September 2020) [↑]
Baltic Ministers endorse commitment for closer cooperation on offshore energy (European Commission, Sep 2020) [↑]
Baltic Sea Region countries sign a declaration on cooperation in the development of offshore wind (Ministry of Energy of the Republic of Lithuania, Sep 2020) [↑]
Contact the RCG team for more information on RCG’s market intelligence and forecasting services.
Oslo, Norway – The Renewables Consulting Group Ltd (“RCG”) and Æge Energy AS (“Æge Energy”) today announced that they have signed a memorandum of understanding for a business alliance to deliver world-class renewable energy advisory services in the Nordic region.
As part of the strategic alliance, the two companies have committed to establishing a joint venture company to provide integrated market intelligence, management consulting, and technical advisory services for the renewable energy sector in Norway, Sweden, Denmark, Finland, and Iceland. The new joint venture will be called RCG Nordic.
Leon Notkevich, Managing Director, Æge Energy said.
“We are excited about joining forces with RCG and creating a joint venture which will be a powerhouse supporting our clients grow renewable energy in the Nordic region.”
He added, “Combining our extensive knowledge and experience in Norway, and the broader region, with RCG’s strength as a global leader in renewable energy advisory, creates a strategic platform for our businesses to work together and thrive.”
Alan Chivers, Chairman, RCG, commented:
“By aligning with Æge Energy, we believe the joint venture will be uniquely positioned to bring world-class consultancy to meet the growing demands of clients in the region for support on complex renewable energy assignments. We already have a track record working with Æge Energy, and its proven capabilities make it the right partner for this deeper alliance.”
Andrew Cole, RCG Managing Director – EMEA, added:
“RCG Nordic presents significant opportunities to provide clients with the enhanced value proposition that our new joint venture offers. Æge Energy’s electrical systems practice is highly complementary to RCG’s established European offering and dramatically expands RCG’s services in Scandinavia and beyond.”
The joint venture will focus its business development and operations on both onshore and offshore renewable energy sources. It will be headquartered in Oslo, Norway, with a strong presence in Bergen to support maritime and offshore energy clients.
RCG Nordic represents a combined capability greater than the sum of its parts. Together, Æge Energy’s local presence and RCG’s renewable energy sector expertise and strong global industry relationships will add tremendous value to the sector within the region.
RCG and Æge Energy expect to finalise the joint venture and begin operations over the next few months, subject to the agreement and completion of terms and conditions.