Equinor’s 88MW Hywind Tampen project has secured up to Nkr2.3 billion (€231m) in funding from an agency of Norway’s Ministry of Petroleum and Energy.
Enova will provide the cash for the 11-turbine floating project that will power two gas fields off Norway from its programme for full-scale innovative energy and climate measures, Eqiunor said.
“With this support we have taken an important step forward in realising the project. Now it is up to the licences to further mature the project towards a final investment decision this autumn,” Equinor’s executive vice president for new energy solutions Pal Eitrheim said.
The project has already secured Nkr 566 million (€57m) in funding from Norway’s Business Sector’s NOx Fund.
Hywind Tampen will meet around 35% of the annual demand for electricity for the Snorre A and B and Gullfaks A, B and C platforms.
Equinor predicts this will save an average of 200,000 tonnes in CO2 emissions each year.
The Norwegian developer is the largest stakeholder at both fields and said it is working with the assets’ six other owners to reach financial close on the project.
Hywind Tampen project director Olav-Bernt Haga said the project will help reduce the cost of future floating wind farms.
“It will offer new industrial opportunities for Norway, the licences and Norwegian supplier industry in a growing global offshore wind market,” he added.