You are here

If subsidised, Statoil will eye Norway's offshore wind

[OSLO] Norway's Statoil may take part in the country's first tender to build floating offshore wind turbines, as long as there are sufficient long-term subsidies, chief executive Eldar Saetre told Reuters on Tuesday.

In December, Norway's ministry of petroleum and energy said it planned to shortly open one or two offshore regions for construction of floating wind generation "If there are (offshore wind) opportunities in Norway being opened with a relevant incentive structure that makes it profitable, that's obviously something that we will assess," Mr Saetre said on the sidelines of a conference.

"It would have to be subsidised, definitely, for a long time," he added.

The Norwegian state, Statoil's majority shareholder, will not have a say in the firm's renewable investments decisions, energy minister Terje Soeviknes separately told Reuters.

"We have meetings where we discuss these (investments) but it is up to the (Statoil) board to decide," he said.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

In October, Statoil began production from the first floating wind farm established off the coast of Scotland, a pilot project that generates power at costs that far exceed the regular market price.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes