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Government of Norway

Climate love

Norway offers $193 million funding to Arctic floating wind farm project

A floating offshore wind farm planned in Arctic waters on Friday received 2 billion Norwegian crowns ($193 million) in state funding, with Norway viewing the still costly technology as a key contributor for industry development and emission cuts.
The GoliatVind project in the Barents Sea, consisting of five 15 megawatts turbines and seeking to supply power to the Arctic town of Hammerfest, beat out six other applicants in a tender by government agency Enova.
Norway hopes that floating offshore wind will provide an industrial future for its offshore supply industry as well as a means of cutting emissions from oil and gas production by replacing gas turbines as a source of power supply.
"The government wants to make arrangements for floating offshore wind to become a new leg for the Norwegian supplier industry to stand on," Energy Minister Terje Aasland said in a statement.
Floating wind such as GoliatVind could help to electrify offshore oil and gas installations while also supplying power to land, Aasland added.
GoliatVind is owned by shipping firm Odfjell Oceanwind, renewables developer Source Galileo and Japanese utility Kansai Electric Power Company.
It will connect to an existing power cable supplying power from shore to the Goliat oil platform, operated by Vaar Energi (VAR.OL), opens new tab, a subsidiary of Italy's ENI (ENI.MI), opens new tab.
The oil platform consumes around 50-55 MW of electricity, which means that on full wind days, the planned turbines could send up to 25 MW to shore, Gunnar Birkeland, the head of Source Gallileo Norge, told Reuters.
Birkeland would not provide an overall cost estimate but said the awarded funding was "significant" for the project.
Operation is planned for 2028, within a five-year deadline for completion set by the Enova award.
Another tender round for small-scale floating wind is already planned for later this year, Enova said.
Last year, Equinor inaugurated the Hywind Tampen floating wind farm in the North Sea, which powers a number of oil and gas platforms.
($1 = 10.3621 Norwegian crowns)

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https://www.reuters.com/sustainability/sustainable-finance-reporting/norway-offers-193-mln-funding-arctic-floating-wind-farm-project-2024-03-08/



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  • Ann Nyambura

    2 w

    This is the kind of leadership we need to protect our planet.

    • mary Mwihaki

      3 w

      This is really good job for clean energy production and environment . I love this.

      • We Don't Have Time

        5 w

        Dear Boniface Kuria Your climate love has received over 50 agrees! We have reached out to Government of Norway by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

        2
        • Sarah Chabane

          5 w

          Can they stop drilling for oil and gas as well? That would a real impact

          2
          • Elizabeth Gathigia

            5 w

            This is a promising project, investing in clean energy is what we need, amazing job Norway

            3
            • Richard S

              6 w

              🔥🚨⛔Electrifying⛔#Ecocide⛔ #Greenwash🚨🔥 #Equinor

              2
              • George Kariuki

                6 w

                Norway taking a big step towards sustainable energy in the Arctic! This funding for the GoliatVind floating wind farm project is a win-win #GreenEnergy and #IndustrialDevelopment.

                3
                • walter lungayi

                  6 w

                  This funding demonstrates a strong dedication to renewable energy development in challenging environments, paving the way for innovative solutions.

                  4
                  • Esther Wanjiku

                    6 w

                    It is really fascinating seeing how the world has quickly adopted to the idea of wind farms. The investment in Norway is really a step in the right direction.

                    10
                    • Princess

                      6 w

                      This is a big win for clean energy and the environment. Great job, Norway!

                      7
                      • Jane Wangui

                        6 w

                        @princess_nel_268 We support any effort done to make sure transition to clean energy is smooth.

                        4
                      • Munene Mugambi

                        6 w

                        Looking forward to seeing effective funds utilisation by this project leading to more renewable energy added to the grid and as an extension, to people's homes

                        5
                        • Boniface Kuria

                          6 w

                          @munene_mugambi with such a heavy investment, I am sure the effect will be felt.

                          2
                        • Chris Ndungu

                          6 w

                          This is a great milestone toward sustainable energy production.

                          4
                          • johnte ndeto

                            6 w

                            It's a promising step towards sustainable energy production.

                            13
                            • Boniface Kuria

                              6 w

                              @johnte_ndeto Its a huge investment in green energy.

                              5
                            • Richard S

                              6 w

                              #Greenwashing #Extractivism

                              3
                              • Richard S

                                6 w

                                @richard_s #Equinor #Sucks

                                1
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