Statoil Weighs In On Norwegian Floaters

January 10, 2018

Norway’s Statoil could participate in the country’s first floating wind tender under the condition that there are sufficient long-term subsidies, the company’s Chief Executive Eldar Saetre told Reuters.

In December, the Norwegian government announced its plans to open one to two offshore areas for the development of floating wind power demonstration projects.

Saetre said that if offshore wind opportunities are being opened in Norway with a relevant incentive structure that makes it profitable, Statoil would participate as long as they are subsidized for a long time, Reuters reported.

Energy Minister Terje Søviknes told Reuters that the state of Norway, Statoil’s majority shareholder, will not take part in the company’s renewable investment decisions, although they are discussed at meetings.

Last year, companies and organizations interested in developing the country’s offshore wind industry urged the government to create a working strategy for the establishment of offshore wind demonstration sites after a survey revealed that Norwegian companies valued their export potential in the North Sea offshore wind market between 2025 and 2040 at around EUR 6.45 billion.