SEV - The Faroese Electric Company
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|SEV supplies electricity to all buildings on
the Faroe Islands.
The company derives its name from the three largest islands Streymoy, Eysturoy and Vágoy, which were the first to get hydro- electricity.
The company was awarded exclusive rights to hydraulic energy on the Faroe Islands, but not the monopoly on selling electricity. However no other companies have made an attempt to compete with SEV, as the extreme cost of building hydro-electric power plants is too high for the small scale supply need on the Faroes.
The company was founded in 1946 although political discussions on establishing hydro-electric power on the islands began in 1906. It took 40 years before the first drop of water was changed into electricity.
The capital of Tórshavn, the town of KlaksvĚk and Suđuroy island gave up their own electricity supplies and joined SEV in 1963. By that time there was a general agreement amongst the inhabitants to be united in their electricity supplies. The last municipality was incorporated into SEV in 1977.
There are nine large and seven smaller hydro electric
plants operated by SEV on the Faroe Islands
Windmills are another resource and more accessible resource although they would have to be specially designed to Faroese circumstances due to the harsh wind conditions on the islands. Presently SEV is experimenting with a new type of windmill which has raised high expectations and if proven successful might be one of the major energy resources for the islands in the future.
The board of SEV consists of seven members from all islands elected by the 78 agents located around the country. The board hires a director and the administrative staff.
The present director is Mr. Klémint Weihe who is by education an engineer.
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