Category: Business News
Norway will press ahead with North Sea wind power this year, awarding its first development licences as it spurs the transition of its oil and gas industry and despite its already plentiful renewables supply. The government has earmarked two areas in the North Sea for up to 4.5 gigawatts of floating and bottom-fixed wind turbine capacity, just under half the current installed capacity in Britain, Europe’s offshore wind leader.
Norway does not actually need offshore wind farms for power – nearly all its electricity comes from renewables already – but instead sees the sector as a means of helping its vast oil and gas industry secure a new, low-carbon business model for the future. Oslo will present details of the tender this spring as part of a white paper on the energy sector, and first wind farms could be in operation by the end of the decade. Many details remain unclear but the process should follow oil and gas exploration procedures where typically seabed rent is not charged.