Statsforetak or SF, meaning State Enterprise is a type of

company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common p ...

Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and t ...

. SFs are wholly owned by the

Government of Norway The politics of Norway take place in the framework of a parliamentary, representative democratic constitutional monarchy. Executive power is exercised by the Council of State, the cabinet, led by the prime minister of Norway. Legislative power i ...

, but it does not hold

limited liability Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to it ...

in the company. The government is free to convert any aksjeselskap (limited company) that it owns, or any other assets, to an SF, without approval by other parties. The companies do have a

board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

and a

managing director A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

. The board must have at least three members; five if there is employee representation. The managing director can not sit on the board. All SFs must have an auditor.

History

The SF was created by the ''State Enterprise Act'' of August 30, 1991 (#71). Initially there were few SFs, but gradually there were created more, mainly by converting government agencies to SFs. During the 2000s the Conservative/Christian Democrat/Liberal government converted some of the SFs to limited companies, including

Statkraft Statkraft AS is a hydropower company, fully owned by the Norwegian state. The Statkraft Group is a generator of renewable energy, as well as Norway’s largest and the Nordic region's third largest energy producer. Statkraft develops and generates ...

(the state power company). Some Statsforetaks: *

Gassnova Gassnova SF is the Norwegian state enterprise for carbon capture and storage Carbon capture and storage (CCS) or carbon capture and sequestration is the process of capturing carbon dioxide (CO2) before it enters the atmosphere, transporting it, ...

Enova SF Enova SF is a Norwegian government enterprise responsible for promotion of environmentally friendly production and consumption of energy. Its stated purpose is to explore new sources of clean energy, reduce overall energy consumption, and to prov ...

* SIVA SF *

Statnett SF Statnett is a Norwegian state owned enterprise responsible for owning, operating and constructing the stem power grid in Norway. The company has its headquarters in Oslo, Norway. Statnett also owns 30% of the Nord Pool Spot along with other Nordi ...

Statskog SF Statskog is a Norwegian state-owned enterprise responsible for the management of state-owned forest and mountain real estate totaling approximately 20% of the area of Norway. About 5% of Statskog's land is productive forest while 80% is above the ...

* Bane NOR SF

References

*''State Enterprise Act'' (''Lov om statsforetak'') of August 30, 1991 #71 {{Norwegian type of company Types of companies of Norway