Fred. Olsen Renewables
Fred. Olsen Renewables is a Norwegian renewable energy developer, owner and operator that runs 12 onshore wind farms (342 turbines, ~800 MW) across the UK, Norway and Sweden and sells the generated electricity to national grid operators and energy markets.
- Company typePrivate
- Founded1990
- HeadquartersLondon, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Fred. Olsen Renewables does
Fred. Olsen Renewables is a Norwegian-incorporated developer, owner and operator of utility-scale renewable energy assets, wholly owned by the Oslo-listed conglomerate Bonheur ASA. The company operates 12 wind farms comprising 342 turbines across the United Kingdom (Scotland predominantly), Norway and Sweden, with an installed capacity of approximately 800 MW and a total project pipeline of around 4 GW spanning onshore and offshore wind. Operating since the mid-1990s, the business has progressively widened its technology footprint to include solar PV (Crystal Rig Solar, an Italian agrivoltaics plant in Lazio), battery storage, and hybrid wind/solar/storage configurations such as the proposed Lees Hill Renewable Energy Park in Scotland. It is also participating in offshore wind through 50/50 and consortium JVs with Vattenfall (ScotWind, up to 798 MW east of Scotland) and with Ørsted and Hafslund Eco (Utsira Nord and Sørlige Nordsjø II in Norway), covering both bottom-fixed and floating technologies.
The company's revenue model is wholesale electricity generation: output from its wind and solar farms is sold to national and regional grid operators and energy markets through a mix of power purchase agreements (PPAs) and merchant generation, with revenue therefore a function of installed capacity, capacity factor and prevailing wholesale prices. Reported production in 2025 reached approximately 4 TWh, displacing an estimated 800,000 tonnes of CO₂ equivalents annually (2020 baseline). Customers are essentially national/regional grids and — increasingly — large industrial offtakers (e.g., a proposed private-wire arrangement to Tomatin Distillery via the Balnespick Wind Farm). Community benefit funds and local supply-chain contracts (£920 million awarded to Scottish businesses, £14.6 million committed to community funds, 866 FTE construction and operations jobs) are pursued alongside grid offtake, reflecting the planning- and stakeholder-driven nature of UK renewables development.
Distribution is effectively grid-mediated: electricity flows through national transmission networks under long-term PPAs and merchant exposure, with no direct product retail. The commercial development model is the standard project lifecycle — site origination, planning consent, construction, ownership and operations — supplemented by portfolio-level monetisation events (e.g., the 2015 sale of a 49% stake in the 433 MW UK operating portfolio to TRIG) and selective bolt-on M&A (acquisition of Global Wind Power Europe in May 2016). The company is registered in Norway, headquartered at Fred. Olsens gate 2, Oslo, and operates additional offices in London, Jönköping and Umeå, with active expansion into Italy.
Fred. Olsen Renewables firmographics
Firmographics- Name
- Fred. Olsen Renewables
- Legal name
- Fred. Olsen Renewables AS
- Website
- https://fredolsenrenewables.com
- Company type
- Private
- Founded year
- 1990
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Fred. Olsen Renewables is a Norwegian renewable energy developer, owner and operator that runs 12 onshore wind farms (342 turbines, ~800 MW) across the UK, Norway and Sweden and sells the generated electricity to national grid operators and energy markets.
- Ownership category
- akta.pro rank
Fred. Olsen Renewables industry classification
Industry- Product category
- Wind Power Generation
- NAICS
- Wind Electric Power Generation (221115), Solar Electric Power Generation (221114)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)
- akta.pro secondary industries
- Onshore Wind Power Generation (Utility-Scale) (EUACAFAA), Wind Farm Development & Permitting (Greenfield/Brownfield) (EUACAFAE), Offshore Wind Power Generation (Fixed-Bottom) (EUACAFAB), Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI)
Keywords
Where Fred. Olsen Renewables is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Fred. Olsen Renewables business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D
Revenue model
- Electricity Generation and Sales: Fred. Olsen Renewables generates revenue by operating wind farms and selling electricity to the grid. The company owns and operates 12 wind farms with 342 turbines in UK, Norway, and Sweden, with total installed capacity of approximately 800 MW.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Fred. Olsen Renewables product offering
Product offeringCore offering
Fred. Olsen Renewables is a developer, owner, and operator of utility-scale renewable energy projects, primarily onshore wind farms. The company develops, constructs, and operates wind farms and is expanding into solar PV and battery storage. It owns and operates 12 wind farms with 342 turbines in the UK, Norway, and Sweden, and is developing hybrid wind/solar/storage projects plus offshore wind partnerships.
Product overview
Fred. Olsen Renewables is a developer, owner, and operator of renewable energy projects with operations dating back to the mid-1990s. The company operates 12 wind farms with 342 turbines across the UK (Scotland), Norway, and Sweden, with an installed capacity of approximately 800 MW and a total project pipeline of ~4 GW in onshore and offshore wind. The portfolio spans individual wind farm operations, hybrid projects combining wind with solar and battery storage, and international expansion into solar energy in Italy. Key projects include the Crystal Rig complex (now extending to Crystal Rig IV with solar added), Lees Hill Renewable Energy Park (the company's first Scottish hybrid scheme), and ongoing repowering initiatives at legacy sites like Windy Standard and Crystal Rig I.
Differentiator
Problem solved
Functional benefit
Products and services
- Wind Farm Operations Fred. Olsen Renewables develops, owns, and operates 12 wind farms with 342 turbines across the UK, Norway, and Sweden, with total installed capacity of approximately 800 MW and a project pipeline of ~4 GW in onshore and offshore wind. Electricity generated is sold to national grids and energy markets.
- Crystal Rig IV Wind Farm
Quantifiable outcome
- Generated clean electricity powering equivalent of ~698,344 homes
- +4 more outcomes
Companies that use Fred. Olsen Renewables
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
Fred. Olsen Renewables technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Fred. Olsen Renewables partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered minor and core.
- SSE RenewablesminorJoint entry with SSE Renewables and East Lammermuir Community Council for Best Engagement Awards at Scottish Green Energy Awards 2024. Partnership on community engagement principles and dedicated web portal with interactive layered map.
- 360 Safety and TrainingminorPartnership with Ayrshire training company to incorporate repurposed turbine components into wind turbine training courses. Supports development of next generation of wind turbine technicians.
- ReBlademinorInnovative partnership to explore solutions for reusing turbine blades from Windy Standard Wind Farm. Partnership will create items from blades such as playparks, bus shelters and bike racks, embracing circular economy principles.
- Dumfries and Galloway CollegeminorPartnership to support training of wind turbine technicians. Company provides decommissioned turbine components from Windy Standard Wind Farm and £10,000 bursary package for students.
- Green MarineminorScotWind partnership MoU with Green Marine, an Orkney offshore service provider. Agreement to utilize local skills and services for offshore wind development, supporting local business expansion and preparing for offshore wind deployment.
- Leask MarineminorScotWind partnership MoU with Leask Marine, an Orkney-based marine contractor. Committed to developing long-term relationships with local supply chain and community.
- Orkney Harbour AuthorityminorScotWind partnership MoU with Orkney Harbour Authority to support Scapa Deep Water Quay expansion and wet storage area in Scapa Flow as a long-term asset for Orkney.
- Vattenfallcore50/50 partnership between Fred. Olsen Renewables and Vattenfall for bidding in Scotland's ScotWind offshore wind leasing round. The partnership combines skills and experience of two leading European renewable energy developers with strong track records in Scotland. They were successful bidders awarded rights to develop a site 67km off the east coast of Scotland with capacity up to 798 MW.
- ØrstedcoreØrsted joined the existing consortium with Fred. Olsen Renewables and Hafslund Eco to develop offshore wind in Norway, applying for licenses in Utsira Nord and Sørlige Nordsjø II areas. The consortium aims to deliver both bottom-fixed and floating offshore wind power while developing the Norwegian supply chain.
- Hafslund EcocoreOffshore wind partnership between Fred. Olsen Renewables and Hafslund Eco to pursue concessions for offshore wind development on Norwegian continental shelf (Utsira Nord and Sørlige Nordsjø II). Equal partnership focused on both bottom-fixed and floating offshore wind technologies.
- Bonheur ASAcoreFred. Olsen Renewables is wholly owned by the listed (Oslo Stock Exchange) company Bonheur ASA. Parent company oversight and ownership structure.
Scale indicators12 records
Recent moves7 records
Expansion highlights6 records
Fred. Olsen Renewables competitors and assessment
Company assessmentDirect peers
- Boralex: Boralex is a mid-cap independent renewable energy developer with multi-technology wind, solar, and storage assets in Europe and North America. Comparable in scale and integrated developer-owner-operator model to Fred. Olsen Renewables.
- Vattenfall: Vattenfall is a Swedish state-owned utility and 50/50 joint venture partner with Fred. Olsen Renewables in the ScotWind offshore wind partnership (798 MW site). Vattenfall operates large-scale wind across UK and Scandinavia with similar project development and operating model.
- SSE Renewables: SSE's renewables arm is one of the largest renewable energy developers in the UK, with significant onshore and offshore wind assets across Scotland and a deep development pipeline. SSE was a joint community engagement partner with Fred. Olsen Renewables at the Scottish Green Energy Awards, and both operate overlapping UK wind portfolios.
- Statkraft: Norwegian state-owned Statkraft is one of the largest renewable energy generators in Europe with significant wind, hydro, and solar operations in the Nordics. It directly competes with Fred. Olsen Renewables for Norwegian wind sites and grid connections.
Broad incumbents
- Iberdrola (ScottishPower Renewables): Iberdrola, through ScottishPower Renewables, operates one of the largest onshore and offshore wind portfolios in the UK, including East Anglia and major Scottish projects. Directly overlaps Fred. Olsen Renewables' UK onshore wind footprint with far greater scale.
- RWE Renewables: RWE is one of Europe's largest renewable energy developers with major offshore wind (e.g., Sofia, Triton Knoll) and onshore portfolios across UK and Northern Europe. Competes with Fred. Olsen Renewables for sites, supply chain, and grid connections.
- Ørsted: Ørsted is the global leader in offshore wind and is a consortium partner with Fred. Olsen Renewables and Hafslund Eco for Norwegian offshore wind sites (Utsira Nord, Sørlige Nordsjø II). Ørsted operates a far larger portfolio but shares overlapping offshore wind ambitions and geography.
Others
- TRIG (The Renewables Infrastructure Group): TRIG acquired 49% of Fred. Olsen Renewables' UK operating portfolio (433 MW) in 2015. As a listed infrastructure fund investing in wind assets in the same geographies, TRIG is both a former partner and indirect peer investor with deep understanding of UK wind economics.
Regional players
- Masdar: Masdar (UAE-based, but with significant European activity including the Hywind Tampen floating offshore wind stake) is an emerging global renewable energy developer. While geographically distinct, Masdar competes for European offshore wind opportunities and shares the floating wind thesis with Fred. Olsen's Norwegian partnerships.
Emerging players
- Cloudberry Clean Energy: Norwegian-listed Cloudberry Clean Energy develops, owns, and operates wind, solar, and hydro assets across the Nordics, including Sweden and Norway where Fred. Olsen Renewables operates. Closely comparable mid-stage developer profile and Nordic geographic focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Fred. Olsen Renewables social profiles
Digital presenceFred. Olsen Renewables financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fred. Olsen Renewables leadership team
Management profileNumber of profiles
Profiles6 records
Fred. Olsen Renewables funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fred. Olsen Renewables M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fred. Olsen Renewables
What does Fred. Olsen Renewables do?
Fred. Olsen Renewables is a developer, owner, and operator of utility-scale renewable energy projects, primarily onshore wind farms. The company develops, constructs, and operates wind farms and is expanding into solar PV and battery storage. It owns and operates 12 wind farms with 342 turbines in the UK, Norway, and Sweden, and is developing hybrid wind/solar/storage projects plus offshore wind partnerships.
Is Fred. Olsen Renewables a public or private company?
Fred. Olsen Renewables is a private company. It is classified as corporate owned and is currently operating.
When was Fred. Olsen Renewables founded?
Fred. Olsen Renewables was founded in 1990. It employs 51 to 100 people.
Where is Fred. Olsen Renewables based?
Fred. Olsen Renewables is headquartered in London, United Kingdom, in the Europe region.
How does Fred. Olsen Renewables make money?
One revenue line is on record: electricity Generation and Sales.
Who are Fred. Olsen Renewables's main competitors?
Direct peers on record are Boralex, Vattenfall, SSE Renewables and Statkraft. Broad incumbents are Iberdrola (ScottishPower Renewables), RWE Renewables and Ørsted. TRIG (The Renewables Infrastructure Group) is listed as an others. Masdar is listed as a regional player. Cloudberry Clean Energy is listed as an emerging player.
Does Fred. Olsen Renewables have an API?
No public API is recorded for Fred. Olsen Renewables.
What industry is Fred. Olsen Renewables in?
Fred. Olsen Renewables's product category is Wind Power Generation. Its primary akta.pro industry code is EUACAFAF, Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations), with a secondary code of EUACAFAA, Onshore Wind Power Generation (Utility-Scale). Its NAICS code is 221115 and its SIC code is 4911.