Ørsted joins consortium with Fred. Olsen Renewables and Hafslund Eco
establishing a long-term partnership to develop offshore wind in Norway and to
compete in Norway's upcoming application round for offshore wind areas.
The Norwegian part of the North Sea holds great potential for the development of
large-scale offshore wind farms that can supply green energy to Norwegian
industries and households, and potentially also to other countries in the North
Sea through the offshore grid needed to enable the massive build-out of offshore
wind across Europe towards 2050. Offshore wind and offshore grid combined will
create a profitable solution for Norway, utilising Norwegian flexible hydropower
and delivering renewable power at low cost.
The three parties see the cooperation as the perfect fit for realising large
-scale offshore wind projects in combination with an offshore grid. The
consortium has the aim to deliver both bottom-fixed and floating offshore wind
power, while developing the Norwegian supply chain for the expected large-scale
build-out of offshore wind in Norway and in Europe.
Ørsted, Hafslund Eco and Fred. Olsen Renewables will be equal partners in the
consortium which will be applying for licenses in both areas appointed by the
Norwegian government, Utsira Nord and Sørlige Nordsjø II. The upcoming
allocation round is expected to consist of up to 4.5GW across the two areas,
with the technical potential being much higher.
The Norwegian government has been a front runner in supporting the early-stage
development of floating offshore wind, and the partnership will work closely
with the strong local supply chain to expand Norway's strategic position within
floating offshore wind, specifically on the Utsira Nord site.
Rasmus Errboe, Head of Region Continental Europe at Ørsted, says: "We're very
happy to enter the Norwegian market for offshore wind with Fred. Olsen
Renewables and Hafslund Eco, whose vast experience in renewable energy, power
markets, the offshore wind supply chain and infrastructure makes them perfect
partners for us. The consortium has a very strong position to compete for both
bottom-fixed and floating offshore wind in the areas expected to be tendered by
the Norwegian government."
Anette Olsen, Managing Director of Bonheur and proprietor of Fred. Olsen & Co.
says: "Adding to the extensive experience within renewable energy, energy grids
and offshore wind, possessed by Hafslund Eco and Fred. Olsen related companies,
Ørsted brings along the largest track record and competence in the world in
developing local supply chains in this industry. This has resulted in
significant creation of new local green jobs within offshore wind. Fred. Olsen
related companies have for years worked successfully with Ørsted around the
globe to develop strong supply chains for transport, installation, upgrades and
maintenance of offshore wind turbines. Through this our companies have
experienced Ørsted's competence and desire to develop local jobs in real life
situations. With the addition of Ørsted, the consortium has further strengthened
its ability to successfully assist Norway to secure a sustainable and efficient
way forward within offshore wind."
Finn Bjørn Ruyter, CEO of Hafslund Eco says: "Offshore grid combined with
offshore wind will create a profitable solution for Norway, delivering renewable
power at low cost for electrification and green industrial growth. Ørsted has
for many years been the leader in bringing down the cost of offshore wind, which
is a significant advantage on the journey to realise offshore wind in Norway and
contributing to future export of Norwegian solutions."
Fred. Olsen-related companies' relationship with Ørsted traces back to 2016 on
the development and construction of offshore wind farms in Europe through wind
turbine transport and installation work performed by Fred. Olsen Windcarrier.
Fred. Olsen Renewables is a developer, owner and operator of renewable energy
with history back to the mid-1990s, with 12 operating wind farms and a total
project pipeline of ~4 GW in onshore and offshore wind. Fred. Olsen-related
companies employ more than 2000 people within renewables and have in depth
experience from offshore wind. Fred. Olsen Renewables is wholly owned by the
listed (Oslo Stock Exchange) company Bonheur ASA.
As the global leader in offshore wind, Ørsted has more than 3,000 employees
dedicated to offshore wind, covering all aspects of developing, constructing,
operating and owning offshore wind farms. Ørsted has constructed 7.5 GW of
offshore wind, including the world's first offshore wind farm in 1991, and
currently has 27 offshore wind farms in operation across Europe, the USA and
Asia Pacific. Headquartered in Denmark, Ørsted has built several offshore wind
farms in the North Sea as a trusted partner to governments in Denmark, the UK,
Germany, and the Netherlands.
Hafslund Eco is a renewable energy and infrastructure group that is wholly owned
by the City of Oslo. The company is the second largest power producer in Norway
and owns and operates 80 hydropower plants, with an annual production of 21 TWh.
The company also owns 50 % of Norway's largest grid company through the
ownership of Eidsiva Energi. Building on 130 years' history of pioneering
renewable energy production and long-term value creation in Norway, Hafslund Eco
is developing offshore wind in the North Sea.