Hafslund Eco

Name

Hafslund Eco

Legal name

Hafslund AS

Website

https://hafslundeco.no

Company type

Private

Founded year

1890

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Renewable Energy Utility

NAICS

Hydroelectric Power Generation (221111), Steam and Air-Conditioning Supply (221330)

SIC

Cogeneration Services & Small Power Producers (4991), Steam & Air-Conditioning Supply (4961)

akta.pro primary industry

District Energy Biomass Plants (Heating Networks) (EUAAAGAB)

akta.pro secondary industries

Waste-to-Energy (WtE) Combustion Facilities (BPALACAD), Biomass CHP & Cogeneration Plants (Industrial & Utility) (EUAAAGAA), Onsite Low-Carbon Heat & CHP (Electrified CHP, Fuel Cells, Renewable CHP) (EUABAJAI)

Keywords

• Renewable energy production
• District heating services
• District cooling services
• Hydroelectric power generation
• Waste-to-energy conversion

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Electricity Production and Sales: Generation and sale of renewable electricity from hydroelectric, wind, and solar power plants. Produces 18.4 TWh renewable energy annually, equivalent to consumption of 1.2 million homes.
2. District Heating: Production and delivery of district heating via 70km pipeline network under Oslo, producing 1.8 TWh in 2025. Revenue from heating services to residential and commercial customers.
3. District Cooling: Cooling services for buildings and facilities in urban areas
4. Waste Combustion Services: Waste-to-energy combustion processing municipal waste and generating heating energy
5. Energy Consulting and Smart Solutions: Advisory services and smart energy solutions for customers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Hafslund Eco is a vertically integrated renewable energy utility that generates electricity from hydroelectric, wind, and solar sources and distributes thermal energy via district heating, district cooling, and waste-to-energy combustion to residential, commercial, and industrial customers in the Oslo region of Norway. The company operates 83 hydroelectric plants producing 18.4 TWh of renewable energy annually and a 70 km district heating pipeline under Oslo delivering 1.8 TWh of heating.

Product overview

Hafslund Eco is a unified renewable energy platform offering a diverse portfolio of power generation products including hydroelectric (83 power plants), wind power, and solar power, alongside essential utility infrastructure services such as district heating (1.8 TWh, 70 km of pipes under Oslo), district cooling, and waste-to-energy combustion. The company also provides consulting services and smart energy solutions. As Norway's second largest power producer, 100% of their production is renewable, with total renewable production of 18.4 TWh (2025).

Differentiator

Problem solved

Functional benefit

Products and services

• Vannkraft (Hydroelectric Power) Generation of hydroelectric power across 83 plants in Norway; Hafslund is Norway's second largest power producer with operations dating to the late 1800s. Sold into the Norwegian electricity market for residential, commercial, and industrial consumers.
• Vindkraft (Wind Power) Wind power generation as part of Hafslund's renewable energy portfolio. Sells renewable electricity into the Norwegian market.
• Solkraft (Solar Power) Solar power generation as part of Hafslund's renewable energy portfolio. Sells renewable electricity into the Norwegian market.
• Fjernvarme (District Heating) Production and delivery of district heating through a 70 km underground pipeline network under Oslo, producing 1.8 TWh in 2025. Sold as a heating service to residential and commercial customers in the Oslo region.
• Fjernkjøling (District Cooling) District cooling services for climate control of buildings and facilities in urban areas. Sold as a cooling service to commercial and residential customers.
• Avfallsforbrenning (Waste Combustion) Waste-to-energy combustion services that process municipal waste and convert it into usable heating energy. Sold as a managed service contributing to Oslo's waste management and heat supply.
• Rådgivning (Consulting) Energy consulting services drawing on Hafslund's expertise in renewable energy and power production. Sold to commercial and industrial customers.
• Smarte energiløsninger (Smart Energy Solutions) Smart energy solutions using technology for optimized energy management and distribution. Sold to commercial and industrial customers seeking energy efficiency and management capabilities.

Quantifiable outcome

• 18.4 TWh renewable production annually
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• RWE: German integrated utility with major renewable generation (especially offshore wind) and European district heating exposure. Comparable in its renewable-led transition strategy and integrated utility structure.
• Ørsted: Danish-listed global leader in offshore wind and renewable energy. Comparable as a large European renewable energy platform pursuing the same transition-driven growth thesis Hafslund articulates around renewables.
• Equinor: Norwegian state-major expanding aggressively into renewables (wind, solar) and operating in the same Norwegian regulatory and power market. Relevant as a much larger competitor pursuing the same growth segments Hafslund targets.
• Fortum: Finnish-listed Nordic utility with significant hydro generation, district heating, and waste-to-energy operations. Comparable vertically integrated utility model across the Nordics, though with broader geographic and segment exposure than Hafslund.
• Vattenfall: Swedish state-owned utility operating large-scale hydro generation and district heating across the Nordics and Northern Europe. Comparable in state-ownership structure, generation mix, and integrated utility model.
• E.ON: Large European integrated utility with regulated networks, renewable generation, and district energy assets. Comparable business model at much larger scale and broader geographic footprint.

Direct peers

• Statkraft: Norway's largest power producer and state-owned. Operates a comparable hydro-led renewable generation portfolio across the Nordics, making it the most direct functional and structural peer to Hafslund.
• Celsio: Oslo's other major district heating operator (formerly Fortum Oslo Varme), running waste-to-energy and district heating infrastructure directly under Oslo — the closest direct competitor to Hafslund's heating and WtE business.

Regional players

• Agder Energi: Norwegian regional energy group with hydro generation and district heating. Comparable as a Norwegian municipal-owned utility with vertically integrated power production and local district energy operations.
• Skagerak Energi: Norwegian regional energy company with hydro generation and grid operations, owned by Statkraft and municipal shareholders. Operates within a similar Norwegian regulatory framework with overlapping product lines (power, heat).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/hafslund.no
• LinkedInlinkedin.com/company/hafslundeco
• Instagraminstagram.com/hafslund

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hafslund Eco