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Norway Awards $425 Million for Floating Offshore Wind Projects

Norway’s state-owned Enova funds two demonstration projects to reduce costs of floating offshore wind.

By RealTime WireSource: english.news.cn1 min read

In brief

Enova granted 3.94 billion Norwegian kroner (about US$425 million) to Fortius Offshore Wind and Fram Wind Solutions for floating offshore wind projects in southwestern Norway. Each company will install two 18.5‑MW turbines at METCentre’s site off Karmøy, expected to generate 300 million kWh per year. Enova aims to test foundations, moorings and construction methods to cut costs and boost commercial viability.

On Friday, October 30, Norway’s state‑owned energy fund Enova announced that it will award 3.94 billion Norwegian kroner (about US$425 million) to two companies for floating offshore wind demonstration projects in southwestern Norway.

Fortius Offshore Wind will receive 2 billion kroner (around US$216 million) and Fram Wind Solutions will be granted 1.94 billion kroner (about US$209 million). Disbursement is conditional on the projects being implemented, Enova said.

Each company plans to install two 18.5‑megawatt floating wind turbines over the next five years at the METCentre’s demonstration site off Karmøy. The four turbines are expected to generate a combined 300 million kilowatt‑hours of electricity annually, enough to power roughly 15,000 homes.

The projects will test floating foundations, mooring systems, and construction and operating methods that Enova identifies as key areas for reducing costs and improving the technology’s commercial viability.

Evy Glorstad, Enova chief executive, said:

“Making the technology commercially viable could accelerate large‑scale renewable energy development, help Norwegian industry, and reduce transport emissions.”

Enova said the projects were chosen through a competitive process that assessed electricity output relative to funding, potential for wider technological adoption, environmental impacts and prospects for future cost reductions.

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