The owners of TrønderEnergi decided on Wednesday afternoon to establish a new Nordic renewable energy company. The company will be named Aneo, which means 'the new'.
TrønderEnergi announced in March that a unanimous board had decided to establish a new Nordic renewable company together with the energy fund HitecVision, where both companies would own 50 percent each.
Since then, the proposal has been reviewed by all owners of TrønderEnergi, 19 municipalities in Trøndelag, and KLP. On Wednesday afternoon, the establishment became a reality when TrønderEnergi's general meeting overwhelmingly (97.51 percent of the votes) decided to implement a demerger (division of the group) and agreed to establish the new renewable company.
- It is gratifying that our owners are so united and support the new venture. This gives us the opportunity to become a pioneer in the green shift, with the will and investment power to develop new, green value chains. We believe it is necessary to think anew to solve the major climate challenges we face, says the chairman of TrønderEnergi, Odd Inge Mjøen.
Covers the entire value chain
The name of the new Nordic renewable company was also announced on Wednesday. The renewable company will be called Aneo.
- After a long and very thorough process, where we considered about 1200 names, the choice fell on Aneo, which means “the new”. All employees at TrønderEnergi have had the opportunity to submit name suggestions. Aneo also builds on a proposal from one of our employees. It is short, simple, and forward-looking. In addition, it has a very nice ring to it, I think, says Ståle Gjersvold, CEO of TrønderEnergi.
Visible and distinct
Aneo will make a major push in renewable energy production, electrification, and energy efficiency throughout the Nordic region. The renewable company will initially have an investment capacity of 15 to 20 billion kroner, providing great and unique opportunities.
- Aneo is set to become a visible and distinct renewable player. We will be a Nordic company, headquartered in Trøndelag, with activities throughout the entire value chain, from electricity generated from renewable sources like solar, water, and wind, to it being utilized as kilometers on the electric car, as temperature in the store's freezer, or used to charge batteries in, for example, planes and boats, says Gjersvold.
Megatrend
Senior partner Jon Vatnaland in the energy fund HitecVision looks forward to contributing to Aneo with capital and extensive experience in building energy companies.
- The green shift is a global megatrend. The world will double its electricity consumption by 2050. At the same time, fossil fuels will be phased out. This means large amounts of new power production must be developed. The energy market will change completely. This offers very exciting opportunities for new businesses and will result in a great need for capital and entrepreneurship, says Vatnaland.
Starting up this fall
Approximately 250 of today's employees at TrønderEnergi will transfer to Aneo, while roughly 25 people will remain with TrønderEnergi. They will work with hydropower and manage ownership in the grid company Tensio.
The employees have supported the plans all along and have been involved in the process from the very beginning.
The transfer of employees takes place through a business transfer that ensures the employees the same rights moving forward as they have today.
- It is an exciting and comprehensive process we have begun. This will give the company and the employees many opportunities to contribute to realizing the zero-emissions society, says employee representative on the board of TrønderEnergi, Hanne Høie Grøttum.
From and including the launch date, June 22, Aneo will be online with its own website, and the plan is for the company to be fully operational from November 1.
