Contract Signed for Norway’s First Commercial Offshore Wind Farm

The government of Norway has signed a two-way Contract for Difference (CfD) related to the offshore wind farm project in the Sørlige Nordsjø II zone with Ventyr Energi, the winner of the recently held auction.

Ventyr Energi, a consortium of Parkwind and Ingka Investments, won the rights to develop the wind farm project at the Sørlige Nordsjø II zone with a winning bid of NOK 1.15 (EUR 0.099) per kilowatt hour.

”This marks a significant milestone in Norway’s commitment to renewable energy. I strongly believe that Sørlige Nordsjø II can be a catalyst for achieving our ambitions for the offshore wind industry in Norway. This project is also an opportunity for the Norwegian supplier industry to play a central role in a new industrial era,” Norway’s Energy Minister Terje Aasland said.

The Ventyr Energi consortium also has a strategic partnership with the Norway-based NorSea group.

The Norwegian government’s ambition is to allocate areas for 30,000 MW of offshore wind production by 2040. In 2020, the first areas on the Norwegian continental shelf were opened for renewable energy production at sea, and the authorities have since worked to further develop the regulatory framework conditions in cooperation with businesses and other users of the sea.

”We at Ventyr are excited to take the next step in the development of Sørlige Nordsjø II. Our aim is to create a positive change through innovation in renewable energy and at the same time contribute to creating ripple effects both in local communities and in Norway. We are honored to be part of Norway’s future in renewable energy and contribute to the ambition to deliver 30 GW of offshore wind power by 2040,” said François van Leeuw on behalf of Ventyr.

The Norwegian government officially opened the application window for Norway’s first offshore wind auction on 29 March 2023, offering a combined capacity of 3 GW across two areas, 1.5 GW at Sørlige Nordsjø II (Southern North Sea II) and 1.5 GW at Utsira Nord.

In February, a total of five players were qualified to participate in the auction, namely Aker Offshore Wind, BP and Statkraft; Equinor and RWE; Norseman Wind, a subsidiary of EnBW; Shell, Lyse and Eviny; and Ventyr.