Norway has earmarked $3.3 billion in subsidies for its first commercial floating wind projects, expected to kick off in 2025. This subsidy will support the development of three floating wind sites with a combined capacity of 2.25 GW at Utsira Nord, as Norway leverages its extensive continental shelf.
With 13 consortia already expressing interest, Norway’s initiative could set the stage for similar investments, boosting the adoption of floating wind technology in challenging environments.
🔗 Learn more about Norway’s floating wind subsidy: https://www.reuters.com/business/energy/norway-confirms-floating-wind-subsidy-cap-33-bln-2024-10-07/