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Norway Plans $3.3 Billion Floating Wind Subsidy Cap

2024-10-08 15:35

Wedoany.com Report-Oct 08, The Norwegian government has proposed up to 35 billion Norwegian crowns ($3.29 billion) in subsidies for its first commercial floating wind power tender, as outlined in its 2025 budget.

Energy Minister Terje Aasland noted the country's significant potential for floating offshore wind but emphasized the need for government support due to high costs and technology immaturity. The subsidy offer remains unchanged from a previous mid-term agreement, despite industry expectations for an increase. The tender focuses on the Utsira Nord area, which includes three sites with a combined capacity of up to 2.25 gigawatts (GW), attracting interest from at least 13 bidders.

The actual offshore wind capacity will depend on factors such as project maturity and cost developments.

Europe Norway Wind Power

Wind power / wind plant

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