Magnora ASA specializes in the development of renewable energy projects, with a principal emphasis on creating wind and solar photovoltaic (PV) facilities. Beyond its green energy initiatives, the company holds licensing agreements for the Dana Western Isles and Shell Penguins Floating Production, Storage and Offloading (FPSO) units. It extends its services to oil firms and marine contractors across the United Kingdom, Norway, and Sweden. Established in 2001, the Oslo, Norway-based enterprise operated under the name Sevan Marine ASA until it adopted its current designation, Magnora ASA, in October 2018.