Norway – Ørsted enters a coalition with Fred. Olsen Renewables and Hafslund Eco to form a long-term cooperation to develop offshore wind in Norway.
The Norwegian portion of the North Sea has enormous potential for the development of large-scale offshore wind farms that can supply green energy to Norwegian industries and households, as well as potentially to other countries in the North Sea via the offshore grid required to enable the massive build-out of offshore wind across Europe by 2050. The combination of offshore wind and offshore grid will result in a viable solution for Norway, utilizing Norwegian flexible hydropower and delivering renewable power at a cheap cost.
Collaboration is key
The three companies consider the collaboration as the ideal way to realize large-scale offshore wind projects in conjunction with an offshore grid. The consortium’s goal is to offer both bottom-fixed and floating offshore wind power while also building the Norwegian supply chain for the anticipated large-scale offshore wind build-out in Norway and Europe.
Ørsted, Hafslund Eco, and Fred. Olsen Renewables will form an equal partnership in the consortium that will apply for licenses in both areas designated by the Norwegian government, Utsira Nord and Srlige Nordsj II. The upcoming allocation phase is likely to include up to 4.5GW across the two locations, with significantly higher technical potential.
The Norwegian government has been a trailblazer in supporting the early-stage development of floating offshore wind, and the collaboration will work closely with the strong local supply chain to extend Norway’s strategic position in floating offshore wind, specifically at the Utsira Nord location.