Norwegian Company Enters Offshore Wind Market in Chile, Plans to Build Two Projects

October 31, 2024, by Adnan Memija

Norway’s Deep Wind Offshore has submitted an application for an area lease to develop one floating and one fixed-bottom offshore wind project along the Chilean coastline.

Deep Wind Offshore Chile — *Source: Deep Wind Offshore*

The Chilean government has set a target of 60 per cent of the country’s electricity to be generated from renewable sources by 2030. By 2040, the annual electricity offtake is expected to grow by 65 per cent compared to 2021, according to Deep Wind Offshore.

The company said that it is committed to contributing to this with offshore wind on a gigawatt scale.

Deep Wind Offshore claims that the offshore wind projects will be managed and operated locally with the aim of creating local jobs, collaborating with local suppliers, and engaging stakeholders, including artisanal and industrial fisheries.

“After carefully considering several markets in Latin America, we decided to enter Chile because the country has very strong fundamentals in terms of world class wind resources, growing demand for renewables, well defined regulatory regime, and a friendly investment climate”, stated Hans Petter Øvrevik, CCO of Deep Wind Offshore.

“To succeed, co-existence is crucial, and we will develop these projects together with local communities and other users of the sea.”

According to Deep Wind Offshore’s website, the Golfo De Arauco Sustentable fixed-bottom offshore wind farm could have an installed capacity of 900 MW, while the BioBio Sustentable floating wind project could reach a capacity of 1,500 MW.

Chile’s Minister of Economy, Development and Tourism, Nicolás Grau, said that initiatives like this from Deep Wind Offshore in the Biobío Region offer a great opportunity to harness the industrial capabilities of the area while contributing to clean energy production at a lower cost for the country.

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In August, the UK-based renewable energy developer 17 Energy and a Chilean company SC Power created a consortium with a plan to develop a floating offshore wind farm off the coast of Biobío Region.

The USD 4.3 billion project is anticipated to begin operations in 2032, subject to acquiring a maritime concession and receiving necessary permits.