Norway Invests $193 Million In Arctic Floating Offshore Wind Farm Project

GoliatVind, a floating offshore wind farm planned in Arctic waters, received 2 billion Norwegian crowns as state funding on Friday. Norway perceives the yet costly technology as a major contributor to industrial development and emission cuts. The project in the Barents Sea, comprising five 15-megawatt turbines, seeks to extend power to Hammerfest.

It has successfully beat out six more applicants in a tender raised by the governmental agency Enova. Norway also hopes that the floating offshore wind will provide an industrial future for the broader offshore supply industry and a means of lowering emissions via oil and gas production by replacing gas turbines as an essential power supply source.

Terje Aasland, Norway’s Energy Minister, stated that the government intends to establish the necessary provisions for floating offshore wind to develop as a new leg for the country’s supplier industry. According to Aasland, floating wind like GoliatVind can help electrify offshore oil and gas installations while supplying power to land. GoliatVind is currently owned by shipping firm Odfjell Oceanwind, the renewables developer source Galileo, and the Japanese utility major Kansai Electric Power Company.

It will be linked to an existing power line from the shore to the Goliat oil platform run by Vaar Energi, an ENI (Italy) subsidiary. The oil platform consumes approximately 50 to 55 MW of electricity. This means that particularly on full wind days, the intended turbines are highly likely to send up to 25 MW to shore, per Gunnar Birkeland, Gallileo Norge’s head of Source, briefed Reuters.

Birkeland wouldn’t share the overall cost estimate but mentioned that the funding was “significant” for such a project. The operation is scheduled for 2028, with a five-year completion deadline specified under the Enova award. Per Enova, another round for small-scale floating wind is planned for later this year.

Equinor launched the Hywind Tampen floating wind farm in the North Sea last year. It supplies power to various oil and gas companies.

Reference: The Globe And Mail

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