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Norway Grants $425 Million to Floating Offshore Wind Projects

State-owned Enova allocates nearly half a billion dollars to two floating wind demonstration projects to reduce costs and improve commercial viability.

By MetaWorld MediaSource: english.news.cn1 min read

In brief

Norway’s state‑owned enterprise Enova announced on Friday a 3.94 billion‑krona ($425 million) award to Fortius Offshore Wind and Fram Wind Solutions for floating offshore wind demonstration projects. Each company will install two 18.5‑MW turbines at the METCentre site off Karmoy, with the four turbines expected to supply around 300 million kWh annually, enough for roughly 15 000 homes. Enova chief executive Evy Glorstad said the initiative will accelerate large‑scale renewables, boost Norwegian industry and cut transport emissions.

On Friday, Oslo, Norway’s state‑owned enterprise Enova announced it would award 3.94 billion Norwegian kroner—about 425 million U.S. dollars—to two floating offshore wind demonstration projects, citing a goal of reducing technology costs and accelerating commercial viability.

Fortius Offshore Wind will receive 2 billion kroner (about 216 million USD) while Fram Wind Solutions will be granted 1.94 billion kroner (about 209 million USD). The award is conditional upon the projects being implemented, Enova said in a statement released at a press briefing.

Both companies are slated to install two 18.5‑megawatt floating wind turbines each over the next five years at the METCentre’s demonstration site off Karmøy in southwestern Norway. The four turbines will together generate approximately 300 million kilowatt‑hours of electricity annually, roughly the annual consumption of 15,000 households.

The projects will test floating foundations, mooring systems, and construction and operating methods—areas Enova identifies as key to cutting costs and improving the commercial viability of floating offshore wind technology.

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

Evy Glorstad said making the technology commercially viable could accelerate large-scale renewable energy development, help Norwegian industry, and reduce transport emissions.

She added that the demonstration projects would provide valuable data on performance and cost, supporting future expansion of floating wind across the North Sea and beyond.

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