Telenor, a Norwegian majority state-owned multinational telecommunications company, Hafslund, an electricity generating company, HitecVision, an oil and gas fund, and Analysys Mason, a TMT management consulting firm, agreed to form a joint venture, build secure and energy-efficient data centres in Oslo. Financial terms were not disclosed. "Establishing these data centres will be an important contribution to enabling Norway's green transformation and digitalisation. With solutions to reuse excess heat, the data centres will free up power consumption for heating and thus provide energy-efficient solutions necessary to reach Oslo's and Norway's climate goals," Finn Bjørn Ruyter, Hafslund CEO.