Equinor & partners inaugurate world's largest floating wind farm in Norway

Equinor, a Norwegian energy company, along with its collaborators, reportedly inaugurated the largest floating offshore wind farm situated in Norway. This significant achievement, unveiled on Wednesday, involves harnessing wind energy to supply power to nearby oil & gas platforms, thereby contributing to a reduction in their greenhouse gas emissions.

Known as the Hywind Tampen wind farm, Equinor has joined forces with fellow oil corporations including OMV and Vaar Energi, which is predominantly owned by ENI. The wind farm began generating electricity in November of the previous year, with full power production being achieved earlier this month.

Kjetil Hove, Equinor's head of exploration and production in Norway, highlighted the company's commitment to reducing CO2 emissions by 50% by 2030. He emphasized the crucial role of sustainable power generation in achieving this goal, while also fostering the growth of a novel industry that will bolster Norway's energy capacity.

Prime Minister Jonas Gahr Stoere hailed the inauguration as a historic event that aligns with Norway's ambitions to diminish CO2 emissions. He emphasized that a sudden cessation of oil and gas production is not the optimal solution for the ongoing energy transition. Stoere stressed the continued global demand for oil and gas during this transitional phase and emphasized the importance of minimizing their environmental impact.

The Hywind Tampen wind farm comprises 11 wind turbines affixed to a floating platform, anchored to the seabed rather than the ocean floor. This innovative technology is particularly suitable for deployment in deeper offshore waters, a direction Equinor aims to pursue.

Despite facing cost escalations from the initial estimate of $491 million in 2020 to over $6.5 million, due to factors like delays in raw materials, quality concerns, inflation, and currency fluctuations, the project received positive impetus from anticipated increases in Norwegian CO2 taxes and higher gas prices. Equinor noted that the project also secured nearly $2 million in subsidies.

With a goal to achieve 30 gigawatts of offshore wind power by 2040, doubling the nation's current power output, Norway is set to tender its first commercial wind farms, including three floating installations, in the upcoming autumn.

Source: https://www.reuters.com/business/energy/equinor-inaugurates-worlds-largest-floating-wind-power-farm-norway-2023-08-23/