Corio Generation, a global offshore wind developer, and Norway’s Å Energi, a leading renewable energy business, have announced their joint venture, Nordvegen Vind. The new venture aims to deliver Norway’s first grid-scale floating offshore wind farm, targeting Utsira Nord, a deepwater site off the country’s southwest coast. Utsira Nord is one of two areas the Norwegian government has opened to licensing applications, with 1.5 GW available in an initial round of development.
Norway has set a target of 30 GW from offshore wind by 2040, and Prime Minister Jonas Gahr Støre has declared the government’s intention to “develop Norway as an offshore wind nation”. The Norwegian North Sea is seen as an ideal location for developing some of Europe’s first commercial-scale floating wind projects.
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Jonathan Cole, CEO of Corio Generation, said, “Our Nordvegen Vind team brings together Corio’s offshore wind experience, industrial capability, and access to capital with Å Energi’s impressive regional presence and energy market expertise. Together, we can deliver on Norway’s vision of an offshore wind nation leading the world.”
Steffen Syvertsen, CEO of Å Energi, said that Nordvegen Vind will contribute to developing a world-class floating offshore wind industry. “In addition to contributing to increased renewable power production, offshore wind is a great opportunity for Norway to create new jobs, increase activity in the supply industry, new export opportunities, industrial development and local spin-offs.”
Recent advances in floating technology mean countries with much deeper coastal waters, where it would have previously been impossible to build conventional fixed foundation offshore wind farms, can now install innovative floating wind platforms to harness their ocean wind resources. According to the International Renewable Energy Agency (IRENA), floating wind farms could cover around 5-15% of global offshore wind installed capacity by 2050.
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Nordvegen is the name for the old shipping route which for more than 3000 years has been a gateway for maritime trade and laid the foundation for Norway’s coastal development. As the Nordvegen Vind joint venture targets Utsira Nord, it aims to set the standard for floating offshore wind in Norway and contribute to the development of the Norwegian offshore wind industry.
