Norwegian oil and gas giant Equinor ASA secured funding of up to 2.30 billion Norwegian kroner for its 88-MW Hywind Tampen floating offshore project.
Enova, a Norwegian government-owned entity that invests in, among other things, renewable energy technologies, granted licenses confirming that the 11-turbine project received the funding. The project had received an investment grant of up to 566 million kroner from Norway's NOx Fund, which invests in projects that reduce the country's nitrogen oxide emissions.
The company said the project could become the world's first floating offshore plant and will power five offshore oil and gas platforms.
The project is expected to meet about 35% of the electricity demand of the Snorre and Gullfaks fields, Equinor said in an Aug. 22 news release.
The seven partners in the Snorre and Gullfaks licenses, which include Equinor, are expected to make a possible investment decision for the Hywind Tampen project this fall.
As of Aug. 22, US$1 was equivalent to 8.97 Norwegian kroner.
