Norway allocates $424 million for floating offshore wind projects

The Norwegian government agency Enova has awarded 3.94 billion NOK (approximately $424.5 million) to Fortius Offshore Wind and Fram Wind Solutions for two floating offshore wind projects. The developments will take place at the METCentre demonstration site off Karmøy in Rogaland over the next five years.

Fortius Offshore Wind is slated to receive 2 billion NOK, while Fram Wind Solutions is allocated 1.94 billion NOK, contingent upon project implementation. Each company plans to install two large turbines with a capacity of 18.5 MW each. Together, the four turbines are expected to generate 300 million kilowatt-hours of electricity annually, enough to power roughly 15,000 households.

The initiative aims to test and demonstrate technologies intended to lower the costs of floating offshore wind, including mooring systems, floating foundations, and construction methods. Enova CEO Evy Glørstad noted that making this technology profitable is a critical step toward large-scale renewable power deployment to reduce climate emissions.