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Norway Grants $425 Million for Two Floating Offshore Wind Projects

Norway’s state‑owned Enova allocated roughly $425 million in funding for demonstration projects aimed at reducing costs and proving the commercial viability of floating offshore wind technology.

By FlashPoint NewsSource: english.news.cn1 min read

In brief

Enova has announced a 3.94 billion‑NOK ($425 million) award to Fortius Offshore Wind and Fram Wind Solutions for four 18.5‑MW turbines that will test floating foundations and mooring systems at a site off Karmøy. The expected 300 million kWh annual output would power about 15,000 homes, per the agency. Enova’s chief executive said the funding could accelerate large‑scale renewable development and benefit Norwegian industry.

Norway’s state‑owned enterprise Enova announced Friday that it has awarded 3.94 billion Norwegian kroner (≈$425 million) to two floating offshore wind demonstration projects aiming to trim costs and prove commercial viability.

Fortius Offshore Wind will receive 2 billion NOK (≈$216 million) while Fram Wind Solutions gets 1.94 billion NOK (≈$209 million). Disbursement is conditional on the projects being implemented, Enova said.

Each company plans to install two 18.5‑megawatt turbines over the next five years at the MET Centre’s demonstration site off Karmøy in southwestern Norway.

The four turbines are expected to produce a combined 300 million kilowatt‑hours per year, enough for roughly 15,000 households.

The projects will test floating foundations, mooring systems, and construction and operating methods, key areas Enova identified for cutting costs and improving viability.

Enova chief executive Evy Glorstad said that making the technology commercially viable could accelerate large‑scale renewable development, help Norwegian industry, and reduce transport emissions.

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

Polls show Norwegian consumers support renewable initiatives, and experts predict that successful demonstration projects could lower deployment costs for future offshore wind farms across Europe.

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