Wind power has been brought up to date again in recent weeks. Not only through the demonstrations against the wind turbines at Fosen, but also through the third season of the news series Exit. The season is based on conversations with Økokrim and the organization Tax Justice Norway and is based, among other things, on the TJN report Vindkraftens skjæmsider. This shows that at least 40 percent of Norwegian wind power plants are owned and financed through tax havens. This is the topic of Debate on NRK1 at 9.20pm tonight. THE DEBATE 21.20: Foreign wind companies are owned at so many levels that no one knows where the money goes. “The report shows that the foreign-owned wind power plants have 42% higher financial costs, which include the payment of interest, per borrowed kroner than the Norwegian-owned ones. Tax deductions from inflated interest payments are a well-known method of aggressive tax planning,” writes TNJ in the report. Tax Justice Norway is an organization that works for global tax justice. Largest share of foreign owners news has asked the Norwegian Directorate of Water Resources and Energy (NVE) for an overview of ownership in Norwegian wind power. According to senior engineer Carl Andreas Veie in the Section for power situation and resources in NVE, 67.4 percent of Norwegian wind power is currently owned by foreign companies. The remaining ownership is distributed as follows: State: 12.1% Norwegian private: 8.3% Municipal: 8.1 Public investment funds: 2% County municipal: 2% Unknown ownership: 0.09% According to NVE, 55 of 65 wind power plants that are in operation in Norway wholly or partly owned by foreign companies. – Attracts shady capital Torgeir Knag Fylkesnes (SV) wants to bring wind power home. Photo: Sofia Storhaug / news SV’s business policy spokesperson Torgeir Knag Fylkesnes wants to turn the ownership situation on its head and believes that the public sector must own two thirds of the wind power. – We believe that wind power, whether on land or at sea, should be under community ownership and control. I think everyone is happy that the public sector owns the hydropower now that we had a power crisis, says Fylkesnes to news. Fylkesnes says all new wind power concessions that are granted must require Norwegian ownership. – Then there is a return to these concessions. When the 20 years have passed, we have the opportunity to subject the concessions to new conditions. In other words, put them under Norwegian community ownership, says Fylkesnes. – But isn’t it good that foreign companies see the value of investing in Norwegian industry? – Opening up for extensive and complex foreign ownership where you see large funds investing and where perhaps the ownership of wind power projects changes hands daily. Where perhaps no one knows who owns them or is held responsible when they have to be taken down or repaired. It is in nobody’s interest, says Fylkesnes. He fears that there are dark figures for how much of Norwegian wind power production can be linked to tax havens. – I think we can state that this is an industry that has attracted shady capital. It is not particularly reassuring considering that this is infrastructure that is fundamental for people, he says. Økokrim: Difficult to gain access to Pål Lønseth is boss of Økokrim. Photo: Sofia Storhaug / news Økokrim boss Pål Lønseth will not comment on the wind power industry in particular, but says on a general basis: – Regardless of the industry, it is a challenge that you do not know who owns the company or, for example, a property. We who investigate economic crime depend on knowing who the real owner is. Both so that we can avoid someone cheating on the tax and that is linked to the danger of money laundering and terrorist financing, says Lønseth to news. If the traces of a company operating in Norway end up in a tax haven, it becomes a problem to gain insight into the real ownership. – Otherwise, it could be that a straw man is listed with shares that are actually owned by others and that are hidden, says Lønseth. He emphasizes that it is not necessarily forbidden for foreign companies to own Norwegian wind power. – How could it become easier for you to control foreign ownership in Norway? – A company register with a requirement to disclose whether real rights holders are on the way. That will remedy the problem a bit. Today, there is also no obligation to register the sale of property in Norway. So someone can potentially sit on a property without knowing who actually owns it, says Lønseth.
ttn-69
67 percent of Norwegian wind power is owned by foreign companies – news Norway – Overview of news from different parts of the country
