trending Market Intelligence /marketintelligence/en/news-insights/trending/P_TXuYVv46pHJQJpe_Ssmg2 content esgSubNav
In This List

Equinor to go ahead with floating offshore wind farm serving oil/gas platforms

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Using ESG Analysis to Support a Sustainable Future


Equinor to go ahead with floating offshore wind farm serving oil/gas platforms

Equinor ASA is moving forward with the development of the 88-MW Hywind Tampen floating offshore wind farm, which will power the Snorre and Gullfaks oil and gas platforms on the Norwegian continental shelf.

The platforms will be the first to be powered by floating offshore wind farms, Equinor said. The Hywind facility will supply about 35% of the annual power needs of the five Snorre and Gullfaks platforms.

Two updated plans for development and operation were to be submitted to Norwegian authorities on Oct. 11, with Equinor and its Snorre and Gullfaks partners making a final investment decision on the project.

The project will cost almost 5 billion Norwegian kroner. Norwegian authorities through Enova, a Norwegian government-owned entity that invest in, among other things, renewable energy technologies, have committed up to 2.3 billion kroner and the business sector's NOx Fund has decided to support the project by up to 566 million kroner.

"The authorities' consent to extending the productive life of the Gullfaks field to 2036 and the Snorre field to 2040, up to 20 years longer than when the fields were initially planned, has been essential to realizing the Hywind Tampen project," Arne Sigve Nylund, Equinor's executive vice president for Development & Production Norway, said in a news release.

The Hywind project, consisting of 11 8-MW turbines, is expected to come online in late 2022.

As of Oct. 10, US$1 was equivalent to 9.12 Norwegian kroner.