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    Annual Accounts 2024
    05.05.2025
    Annual Accounts 2024 The 2024 Annual Accounts were adopted by the AGM on 28th of April 2025. "The result after taxes amounted to DKK 48.4 million, which we consider satisfactory", said Haraldur S. Hamm
    A space program that never leaves Earth
    27.03.2025
    A space program that never leaves Earth Press Release While others race to the moon and back, the Faroe Islands space program takes a bold new step in space exploration-without ever leaving Earth. One of the largest bear
    New Board of Directors of Sev
    28.02.2025
    New Board of Directors of Sev Today, the Extra Ordinary General Assembly appointed the new Board of Directors.  Chairperson of the Board is Mr Haraldur S. Hammer, who held the position of Vice Chairperson
    Strong stakeholder engagement towards Minesto’s first tidal energy Dragon farm in Hestfjord, Faroe Islands
    06.02.2025
    Strong stakeholder engagement towards Minesto’s first tidal energy Dragon farm in Hestfjord, Faroe Islands On Monday 3rd February, ocean energy developer Minesto welcomed Faroese stakeholders, authorities as well as the public to a seminar at the Nordic House in Torshavn. Martin Edlund,
    Proposed budget for Sev 2025 approved
    06.12.2024
    Proposed budget for Sev 2025 approved The General Assembly approved the proposed budget for 2025 on 6th December.    See Financial Status 2024 and Budget for 2025
    58% Green Energy First Half 2024
    22.07.2024
    58% Green Energy First Half 2024 Sustainables made up 58% of total electricity generation in the first half of 2024. Wind power and hydro power generation, respectively, increased  as thermal power generation
    Wind Power Tender
    16.07.2024
    Wind Power Tender The Faroese Environmental Agency has launched an on shore wind power tender seeking up to 30 MW on the island of Sandoy. This will be the first wind power production site in Sandoy
    Visit from the President of the European Commission
    14.03.2024
    Visit from the President of the European Commission Ursula von der Leyen, President of the European Commission visited our Húsahagi windpark in Torshavn on Thursday 14th of March. She was welcomed by Hákun Djurhuus, CEO of Sev as we
    Green Days
    31.01.2024
    Green Days "Always look on the bright side of life"Strong winds and heavy rain can be tiresome but on the upside, sustainables made up 92% of total electricity generation in the Faroe Islands
    Sev CEO awarded Leader of the Year
    26.01.2024
    Sev CEO awarded Leader of the Year "Management is a team effort and it is my great pleasure and privilege to be the team captain" said Hákun Djurhuus, CEO of Sev in his acceptance speech as he received the award Lea
    Clearing lines and poles in the mountains
    20.11.2023
    Clearing lines and poles in the mountains Normally, we prefer windy and wet weather as it is needed for sustainable energy production. However, calm, cold and dry weather conditions are perfect for maintenance work in the
    50% of the electricity generated during the initial half of 2023 came from green energy sources
    08.08.2023
    50% of the electricity generated during the initial half of 2023 came from green energy sources Electricity consumption in the first half of 2023 increased by 7% and amounted to 224 GWh. Green energy generation increased by 20% compared to the same period in 2022 and was 112
    A New High in Solar Power Production
    08.08.2023
    A New High in Solar Power Production The solar power production in June 2023 broke the record for highest production with reaching 35.8 MWh, since the implementation if the solar power farm in Sumba. Comparatively, th
    In the initial half of 2023, 56% of Suðuroy's power consumption was sourced from renewable resources
    07.08.2023
    In the initial half of 2023, 56% of Suðuroy's power consumption was sourced from renewable resources This period saw a significant upsurge in wind energy, solar power, and hydropower, while thermal energy experienced a notable decrease. Notably, wind energy saw a remarkable increa
    Oil prices weigh heavily on SEV's annual accounts
    21.04.2023
    Oil prices weigh heavily on SEV's annual accounts The 2022 Annual Accounts have been adopted by the AGM on 21st of April 2023. "Result after taxes amounted to DKK 16.7 million, which is less than satisfactory", said Kári Johansen,
    One step closer to improved wind energy penetration
    28.03.2023
    One step closer to improved wind energy penetration We are in the process of increasing our capacity to utilize wind energy in the Main Area of the Faroe Islands with the investment in a synchronous condenser and a battery energy st
    Minesto and SEV strengthen partnership for tidal energy build-out in the Faroe Islands
    23.01.2023
    Minesto and SEV strengthen partnership for tidal energy build-out in the Faroe Islands Press Release Minesto, leading ocean energy developer, and SEV, Faroese utility company, have renewedand expanded the collaboration agreement outlining respective roles and respons
    2022 - A record year
    20.01.2023
    2022 - A record year 2022 proved to be a record year in electricity generation in the Faroe Islands. In total 434 GWh of electrical power were generated, which is a 2.3 percent increase and a new recor
    Increase in electricity prices
    16.01.2023
    Increase in electricity prices While inflation has had a substantial impact on electricity prices throughout Europe, electricity prices in the Faroe Islands have hitherto not been affected. SEV has been able to
    Green Energy September
    07.10.2022
    Green Energy September   For 8 days in September, sustainable electricity generation on the islands of Suðuroy reached 100% and the motors of the thermal power plant were temporarily switched off. For 10
    Renewable energy generation in July 2022
    08.08.2022
    Renewable energy generation in July 2022 July 2022 As a result of the bad weather, the month of July was outstanding in terms of power generated from renewable energy sources. The power generated from wind and water was,
    Funding for Mýruverkið II has been provided
    27.07.2022
    Funding for Mýruverkið II has been provided SEV has now received the necessary funding for the pumped storage system in Vestmanna – also called Mýruverkið II. The funding has been provided by Faroese and foreign lenders. The
    Renewable energy increased by 15% during the first six months of 2022
    12.07.2022
    Renewable energy increased by 15% during the first six months of 2022 The need for energy in the Faroe Islands increases continuously, and in the first six months of 2022, the energy generation reached a total of 209,5 GWh, which is a growth of 3.5%
    PhD thesis on Ensuring Supply Reliability and Grid Stability in a 100% Renewable Electritity Sector in the Faroe Islands
    27.06.2022
    PhD thesis on Ensuring Supply Reliability and Grid Stability in a 100% Renewable Electritity Sector in the Faroe Islands On Friday 24th of June, Helma Maria Tróndheim successfully defended her PhD thesis entitled Ensuring Supply Reliability and Grid Stability in a 100% Renewable Electritity Sector in
    Minesto launches tidal array build-out plan, empoweringFaroe Islands towards 100% renewable energy
    13.04.2022
    Minesto launches tidal array build-out plan, empoweringFaroe Islands towards 100% renewable energy Leading marine energy developer Minesto has launched a detailed plan for large-scalebuild-out of tidal energy arrays in the Faroe Islands. The plan includes four new verifiedsites
    68% renewables in March
    12.04.2022
    68% renewables in March   The share of renewables in total Faroese electricity generation in March 2022 was 68 per cent. For a total of 10 days, renewable electricity generation exceeded 80 per cent. Hydr
    Minesto to concentrate Dragon Class operations in the Faroe Islands in 2022
    14.03.2022
    Minesto to concentrate Dragon Class operations in the Faroe Islands in 2022 Press Release Minesto Minesto has decided to concentrate this year’s operations with its Dragon Class marine energy converters at the established and grid-connected site in
    62% renewables in January
    10.02.2022
    62% renewables in January   Renewable electricity generation saw an all-time high in January 2022. A total of 24 GWh were produced from hydro power, wind power, biomass as well as solar power. Total electri
    Electricity prices will not increase in 2022
    26.11.2021
    Electricity prices will not increase in 2022 Next year's budget has been adopted by the Extraordinary General Meeting.  Although costs have increased in the year 2021 due to high prices on fossil fuel and below average sustai
    Wind turbine struck by lightning
    25.11.2021
    Wind turbine struck by lightning And just like that our oldest wind turbine went out with a blast. Struck by lightning the small 150 kW Nordtank wind turbine that has been in service since 1993 sustained irreparab