• 7 minutes Does S Arabia Have 2 Mln Barrels in Spare Capacity?
  • 16 minutes Google, Hit With Record $5 billion EU Antitrust fine, To Appeal
  • 23 minutes 67.50 was the low for now, $70 - $76+ back in play
  • 2 hours Rally on Hold, if 69.5 don't break, 62.5 could be next.
  • 14 hours Daimler and BMW Will Beat Tesla in EV Race
  • 5 hours Chile Becomes The Latest Country To Commit To 100% Renewables
  • 20 hours Trudeau Shuffles Cabinet, Seeks To Reduce Reliance On U.S.
  • 2 days EU And Japan Sign Historic Free Trade Deal
  • 5 hours China’s Technology Sector Takes On Silicon Valley
  • 19 hours Chartist predicting a $1 fall, after WTI drops $10
  • 4 hours Where 3 Million Electric Vehicle Batteries Will Go When They Retire?
  • 2 days Venezuela, the largest oil reserve in the world, faces deep shortages of motor oil
  • 2 days Trump-Putin Helsinki Summit And Oil Prices
  • 2 days Germany: We Can No Longer Fully Rely On U.S. White House
  • 16 hours Rio Tinto Says $4-Million Goodbye to Coal
  • 2 days Trump mulling releasing 5 to 30 Mill Barrels
How China Will Win The Solar Race

How China Will Win The Solar Race

China, the world’s biggest carbon…

OPEC To Rule Oil Markets Till Peak Demand

OPEC To Rule Oil Markets Till Peak Demand

OPEC will continue to supply…

Norway Looks To Build Its First Offshore Floating Wind Farms

wind offshore

Norway’s Petroleum and Energy Minister Terje Søviknes will meet next week with companies and other stakeholders to discuss the potential construction of offshore floating wind farms in Norwegian waters, Søviknes told Reuters on Friday.

“Wednesday next week I will have a meeting with different stakeholders in offshore wind and discuss both the opening process and the regulatory framework,” the minister said, adding that he hoped the parties could come up with a proposal by the fall.

The floating offshore wind parks are not fixed to the seabed and are more feasible to install in deeper waters.

Next week’s meeting will be the first concrete step toward Norway starting to study floating offshore wind farms, after its government said last year that it would seek to promote such plans.

In wind power, Norway currently has 3.6 Terawatt hours of wind power, and another 5.5 Terawatt hours are being built, minister Søviknes said in February this year, adding that by 2020, it is likely that Norway will have more than 10 Terawatt hours of wind power.

Now Norway is pushing to potentially construct its first offshore floating wind farms, and Søviknes will meet companies whom he did not name.

Still, it is Norway’s Equinor (formerly Statoil) that is the operator of the world’s first floating wind farm, the 30-MW Hywind Scotland offshore Peterhead in Aberdeenshire.

Related: Did OPEC Need To Cut Oil Output At All?

In February this year, Equinor said that it sees great potential for floating offshore wind in Asia, on North America’s West Coast, and in Europe, considering that up to 80 percent of the offshore wind resources globally are in deep waters of more than 60 meters (197 feet), where traditional seabed-fixed installations are not suitable.

“We see growing potential for floating and we expect about 13 gigawatts of offshore floating wind to be installed by 2030, not Statoil, but on a global basis,” Irene Rummelhoff, Executive Vice President of New Energy Solutions at Equinor, said at the company’s Socially Responsible Investor Day last month.

“We’re working very hard to mature our offshore floating projects. We have an exciting one that we’re working on in Norway, trying to combine floating offshore wind with oil and gas installations,” Rummelhoff said, adding that Equinor also sees offshore floating opportunities in regions such as France, Ireland, the U.S. West Coast, and Japan.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Troy on June 16 2018 said:
    Norway pays $0.20/KWH for electricity. Coal power is $0.05/KWH. The virtue of wind farms is they keep people employed repairing the turbines.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News