Source Galileo has sold Source Galileo Norge AS to Unitech Energy Group, with the company to be renamed Nordrenergi AS and based in Haugesund.
Source Galileo said Nordrenergi will combine the renewable resources and expertise of Source Galileo Norge AS with complementary capabilities across Unitech Energy Group.
Unitech Energy Group added that its energy business will be relocated from Bergen to Haugesund as part of the transaction.
The company will serve as a focal point for the development, ownership, and operation of advanced energy technologies supporting the energy transition.
Nordrenergi’s responsibilities include Battery Energy Storage System projects, high-voltage technology, ownership and operation of Zephyros, and Stord Energy Terminal.
The Nordrenergi team will also continue to provide support as needed to the GoliatVind project.
“Unitech and the Zephyros Companies possess world-class renewable energy competence, particularly within offshore wind, where we have achieved remarkable results, including 98% efficiency and a 50.5% capacity factor,” said Bernt Hellesøe, chair of the board.
“Through this work, we have developed a unique level of expertise, supported by new innovations and the filing of new patents.”
“Following a strategic review of Galileo’s investments in Norway, we concluded that a sale of the SGN business to a local player such as Unitech would better position the team and business for growth,” said Katy Hogg, chief operating officer of Galileo.
“We wish the team every success.”