Hafslund Venture is the Group’s investment and development company for targeted areas closely related to Hafslund’s business activities. The investments in Renewable Energy Corporation (REC) contributed significantly to Hafslund’s value growth in 2005. The primary focus of Hafslund Venture is on companies within renewable energy and energy-related services and technology. Small- and medium-sized companies with good value growth potential are identified – from companies in their early phases, so-called early venture, to more established corporations with commercialized products and services.