Nordkraft
Nordkraft AS is a Norwegian renewable-energy utility headquartered in Narvik that generates, distributes, and services electricity from hydropower and wind assets across northern Norway, serving municipal governments, industrial and commercial customers, and residential consumers primarily through regulated distribution, generation, and municipal service contracts.
- Company typePrivate
- Founded1913
- HeadquartersNarvik, Norway
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Nordkraft does
Nordkraft AS is a Norwegian renewable-energy utility headquartered in Narvik that generates, distributes, and services electricity across northern Norway. Originally established in 1913 as Narvik Kommunale Elektrisitetsverk, the company operates an integrated portfolio of hydropower plants, the Nygårdsfjellet vindkraftverk wind farm, and additional wind/small-scale hydro projects under development, with 2012 production of 1,010 GWh against a project pipeline of approximately 2,500 GWh. Its core offerings span power generation (Energidrift and Kraftverk product lines), regulated electricity distribution through the Nordkraft Nett grid, municipal street-lighting services (Elektrotjenester) covering Narvik, Ballangen, Kjøpsvik, and Andøy, fiber and broadband services in the Hålogaland region, and energy consulting via the Enerconsult subsidiary.
The company is majority-owned by Narvik kommune (50.01%), with Troms Kraftforsyning og Energi AS holding 33.33% and Hålogaland Kraft AS holding 16.66%, giving it a hybrid public-private ownership anchored by municipal control. Operating geography is concentrated in northern Norway, with offices in Narvik (headquarters), Oslo, and Mo i Rana, and segment focus split across municipal governments, industrial and commercial customers, and residential/local-community end users. Revenue is generated predominantly through recurring, regulated or contracted streams — electricity sales, distribution network access fees, and municipal service agreements — supplemented by consulting and broadband services.
In 2013 Nordkraft executed a comprehensive restructuring under the "Nye Nordkraft" plan, targeting at least 30 million NOK in annual fixed-cost reductions, a new corporate structure, and a "Strategy 2020" roadmap in response to a 37% drop in electricity prices and below-average water inflows; the company divested non-core IT assets, rebranded under a unified Nordkraft identity, and led its workforce of approximately 166 through a leadership transition from Klaus Hvassing to Eirik Frantzen. More recently, in May 2026 Nordkraft entered a strategic partnership with SKS and NTE to co-develop wind power in Finnmark, signaling resumed geographic and capacity expansion in renewables. Community programs (Medvindmidlene, Camp Nordkraft, Nexus Nordkraft) and sponsorship activity function as both local engagement mechanisms and a soft pipeline for technical talent across the Hålogaland region.
Nordkraft firmographics
Firmographics- Name
- Nordkraft
- Legal name
- Nordkraft AS
- Website
- https://nordkraft.no
- Company type
- Private
- Founded year
- 1913
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Nordkraft AS is a Norwegian renewable-energy utility headquartered in Narvik that generates, distributes, and services electricity from hydropower and wind assets across northern Norway, serving municipal governments, industrial and commercial customers, and residential consumers primarily through regulated distribution, generation, and municipal service contracts.
- Ownership category
- akta.pro rank
Nordkraft industry classification
Industry- Product category
- Renewable Energy Utility
- NAICS
- Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112)
- SIC
- Electric Services (4911), Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)
- akta.pro secondary industries
- Wind Farm Development & Permitting (Greenfield/Brownfield) (EUACAFAE), Renewable Grid Interconnection & Collector Systems (Solar/Wind) (IMAFAHAD), Interconnection, Permitting & Grid Services for DERs (EUAMAJAH)
Keywords
Where Nordkraft is headquartered
LocationHeadquarters
- HQ city
- Narvik
- HQ country
- Norway
- HQ region
- Europe
Offices3 records
Markets served
Nordkraft business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D
Revenue model
- Energy production and sales: Generation and sale of renewable electricity from hydropower and wind power installations. Production capacity includes multiple hydro power plants and wind farms.
- Electricity distribution: Operation and maintenance of electricity distribution network serving Narvik municipality and surrounding areas
- Street lighting services: Maintenance and operation of street lighting infrastructure for municipalities under service agreements
- Fiber and broadband services: Development and delivery of fiber optic broadband services in Hålogaland region
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Nordkraft product offering
Product offeringCore offering
Nordkraft AS is a Norwegian renewable energy utility that develops, owns, and operates hydroelectric and wind power plants, distributes electricity through a regional grid, and provides electrical infrastructure services such as street lighting and fiber broadband to municipalities in northern Norway. The company also offers energy consulting through its Enerconsult subsidiary.
Product overview
Nordkraft is an energy company offering a portfolio of renewable energy and utility services in northern Norway. The core operations include Energidrift (operator services for hydroelectric and wind power plants) and Kraftverk (ownership of power generation facilities). Supporting services include Elektrotjenester (street lighting and electrical services for municipalities) and fiber/broadband services in the Hålogaland region. The company also provides consulting services through Enerconsult and operates student programs for workforce development.
Differentiator
Problem solved
Functional benefit
Brands
- Camp Nordkraft: Summer student program offering practical work experience for technology and economics students in northern Norway
- Medvindmidlene
- Nexus Nordkraft
- Sildvikmidlene
- Enerconsult
Products and services
- Energidrift (Energy Operations) Operator services for hydroelectric and wind power plants, managing the production of renewable energy for Nordkraft and partner installations.
- Kraftverk (Power Plants) Ownership and operation of hydroelectric and wind power generation facilities in northern Norway, producing renewable electricity for sale and distribution.
- Elektrotjenester (Electrical Services) Street lighting services, electrical infrastructure maintenance, and intelligent lighting control for the municipalities of Narvik, Ballangen, Kjøpsvik, and Andøy.
- Fiber/Bredbånd (Fiber/Broadband) Development and delivery of fiber optic broadband services across the Hålogaland region in northern Norway.
- Enerconsult Consulting services related to energy and power infrastructure, delivered through Nordkraft's Enerconsult subsidiary.
Quantifiable outcome
- 1,010 GWh annual power production capacity
- +2 more outcomes
Companies that use Nordkraft
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
Nordkraft technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Nordkraft partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- SKScoreNordkraft, SKS and NTE formed a strategic partnership for joint development of wind power in Finnmark. This collaboration represents a significant regional effort to advance renewable energy infrastructure in northern Norway.
- NTEcoreNordkraft, SKS and NTE formed a strategic partnership for joint development of wind power in Finnmark. This collaboration represents a significant regional effort to advance renewable energy infrastructure in northern Norway.
- Salten KraftsambandminorNordkraft doubled its ownership stake in Salten Kraftsamband through this acquisition and received 75 million NOK as part of the transaction arrangement.
- Narvik kommunecoreNarvik kommune holds 50.01% ownership in Nordkraft AS as of 2012, making it the majority shareholder in the energy company.
- Troms Kraftforsyning og Energi AScoreHolds 33.33% ownership stake in Nordkraft AS as of 2012
- Hålogaland Kraft AScoreHolds 16.66% ownership stake in Nordkraft AS as of 2012
Scale indicators8 records
Recent moves8 records
Expansion highlights5 records
Nordkraft competitors and assessment
Company assessmentRegional players
- Skagerak Energi: Southeastern Norwegian utility with hydro and grid operations plus telecom activities; similar product portfolio to Nordkraft but operating in a non-overlapping geography.
- Agder Energi: Southern Norway regional utility with hydro generation, distribution, and telecom; comparable vertically integrated utility model but in a non-overlapping geography.
Broad incumbents
- Statkraft: Norway's state-owned hydropower giant and Europe's largest renewable energy generator; competes for the same wind development sites and PPA customers as Nordkraft but at vastly greater scale.
- Å Energi: Large Norwegian utility formed from Agder Energi and Glitre Energi merger; competes in generation, distribution, and fiber across southern and eastern Norway, providing a benchmark for regional utility scale and economics.
Direct peers
- Lyse Energi: Norwegian regional utility combining hydropower generation, grid operations, and fiber/broadband—closely matching Nordkraft's energy-plus-fiber vertical mix in a different region.
- NTE (Nord-Trøndelag Elektrisitetsverk): Mid-Norway regional utility with renewable generation, distribution, and fiber, partnering with Nordkraft and SKS on Finnmark wind development; highly comparable vertically integrated utility model.
- Salten Kraftsamband (SKS): Regional Norwegian utility majority-owned by Nordkraft (doubled stake in 2007) and now co-developing Finnmark wind with it; comparable hydro/wind mix and B2G distribution model in northern Norway.
- BKK AS: Vertically integrated regional Norwegian utility with hydro generation, grid distribution, and fiber; closely comparable to Nordkraft in scope and customer mix on Norway's west coast.
- Troms Kraft: Norwegian regional energy utility with hydropower and grid operations in northern Norway and a 33.33% co-owner of Nordkraft, making it the most directly comparable peer in product, customer base, and geography.
- Hålogaland Kraft: Regional Norwegian utility holding 16.66% of Nordkraft and operating in overlapping Hålogaland geographies with similar hydropower, grid, and municipal service offerings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Nordkraft social profiles
Digital presenceNordkraft financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nordkraft leadership team
Management profileNumber of profiles
Profiles4 records
Nordkraft subsidiaries and ownership
Company hierarchySubsidiaries4 records
Nordkraft funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nordkraft M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nordkraft
What does Nordkraft do?
Nordkraft AS is a Norwegian renewable energy utility that develops, owns, and operates hydroelectric and wind power plants, distributes electricity through a regional grid, and provides electrical infrastructure services such as street lighting and fiber broadband to municipalities in northern Norway. The company also offers energy consulting through its Enerconsult subsidiary.
Is Nordkraft a public or private company?
Nordkraft is a private company. It is classified as corporate owned and is currently operating.
When was Nordkraft founded?
Nordkraft was founded in 1913. It employs 251 to 500 people.
Where is Nordkraft based?
Nordkraft is headquartered in Narvik, Norway, in the Europe region.
How does Nordkraft make money?
Four revenue lines are on record. Energy production and sales are the primary driver. The others are electricity distribution, street lighting services and fiber and broadband services.
Who are Nordkraft's main competitors?
Regional players on record are Skagerak Energi and Agder Energi. Broad incumbents are Statkraft and Å Energi. Direct peers are Lyse Energi, NTE (Nord-Trøndelag Elektrisitetsverk), Salten Kraftsamband (SKS), BKK AS, Troms Kraft and Hålogaland Kraft.
Does Nordkraft have an API?
No public API is recorded for Nordkraft.
What industry is Nordkraft in?
Nordkraft's product category is Renewable Energy Utility. Its primary akta.pro industry code is EUACAFAF, Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations), with a secondary code of EUACAFAE, Wind Farm Development & Permitting (Greenfield/Brownfield). Its NAICS code is 221115 and its SIC code is 4911.