This past Sunday, Norway, Western Europe's largest oil producer, announced the creation of a 2.5 million euro renewable energy fund. That's surprising news by itself but what really shocks me is learning that hydropower already accounts for 99 per cent of the electricity generated in Norway, with an annual average production of about 119 Terawatt hours. The installed hydropower capacity is 28,300 megawatts, making Norway the sixth largest hydro power producer in the world. Norway is also Europe's leading producer of electricity based on renewable energy sources. The annual production of about 119 Terawatt hours is equivalent to almost one third of the total production of electricity from renewable energy sources in Europe. Apparently not satisfied with all of that, Norway is establishing a new fund to pursue its unutilized renewable energy potential from various other sources. Nearest to commercial breakthrough at the moment are wind power and bio energy, while tidal and wave power holds promise for the future. Norway's wind resources are said to be especially large along the coast and in the north. High wind velocity and the large open areas make wind power particularly favorable.