Otovo restructures and trims workforce
Otovo, the Oslo-listed solar company known for selling rooftop solar panel solutions and batteries, announced a major restructuring that will cut 88 positions. The workforce is set to fall from 213 to 125 employees as part of the strategic shift. The company said the job cuts are aimed at lowering costs and adjusting its delivery model to align with evolving market dynamics in rooftop solar.
Outsourcing installation and a new organizational model
Central to the restructuring is a transition away from the company itself handling installation and related services. Otovo plans to rely more on external partners for installation, maintenance, and associated work, effectively moving away from a fully in-house sales-and-installation approach. The company described the change as a move toward a new setup and organization that supports its refreshed strategy.
Financial impact and cost savings
Management anticipates substantial savings from the workforce reductions, estimating about NOK 80 million in annual savings. In addition, the company expects group costs to drop by 30–40 million NOK per year, reflecting the broader shift to external execution and a leaner operating model.
Leadership changes and key departures
As part of the restructuring, several senior finance and commercial leaders are affected. The company disclosed that Finance Director Petter Ulset, Revenue Director Fabio Stefanini, and Marketing Director Sasha Berson will be leaving the organization. Otovo did not detail every change, but confirmed a broader reorganization accompanying the strategic pivot.
Strategic shift: leasing and care via local electricians
A notable aspect of Otovo’s strategy is outsourcing installation while expanding consumer access through new channels. The company intends to offer Otovo Leasing and Otovo CARE through local electricians, broadening how homeowners can obtain solar solutions and ongoing support. In discussing the shift, CEO Andreas Thorsheim asked, “Why shouldn’t homeowners be able to get Otovo Leasing and Otovo CARE through their local electrician? After all, you can buy an iPhone in several places.” The idea is to make Otovo’s services more accessible by leveraging local installer networks rather than relying solely on direct sales channels.
Background and leadership
Otovo was founded by Andreas Thorsheim, who remains at the helm as CEO. The restructuring reflects the company’s intention to adapt its business model to market realities and customer preferences, emphasizing flexible delivery and service options rather than a purely self-managed installation workflow.
What this means for customers and the market
For homeowners and small-scale buyers, the changes could translate into more flexible access to solar systems through local electricians, with potential leasing and ongoing care as part of bundled offerings. The transition may also influence the competitive landscape for rooftop solar in Norway and broader markets where Otovo operates, as companies recalibrate how they price, install, service, and finance solar deployments. While the repositioning introduces short-term disruption in staffing and roles, the long-term effect could be a more scalable, partner-driven delivery model that preserves Otovo’s focus on renewable energy adoption.
Otovo noted that the restructuring will take effect through the coming months, with the company pursuing its new strategy while continuing to serve customers and maintain operations. The move highlights a growing trend in the renewables sector: balancing direct expertise with robust external partnerships to drive growth while managing costs.
