In a bid that marks a significant step towards Norway’s renewable energy ambitions, a consortium led by two Japanese power companies has secured the rights to develop the country’s inaugural offshore wind farm. The Norwegian energy department’s announcement on March 20 revealed that the winning bid was submitted by a partnership comprising Ingka Group, the parent company of IKEA, and Parkwind, a Belgian firm acquired by JERA Co., a thermal power plant operator.
JERA Co. is a joint venture between TEPCO Fuel & Power Inc. and Chubu Electric Power Co., bringing together expertise from two major players in the Japanese energy sector. The consortium’s plan involves constructing wind turbines on the continental shelf in the North Sea, with an ambitious target to have the farm operational by 2030.
Once completed, the wind farm is expected to generate an impressive 1.5 gigawatts of electricity, contributing significantly to Norway’s renewable energy capacity. To support this groundbreaking project, the Norwegian government has pledged to provide up to 23 billion krones (approximately 322 billion yen or $2.1 billion).
Norway, known for its abundant natural gas and petroleum reserves, has been criticized for lagging behind its northern European counterparts in adopting renewable energy sources. However, with this new offshore wind farm, the country is making a clear commitment to diversifying its energy mix and reducing its reliance on fossil fuels.
Prime Minister Jonas Gahr Støre, present at the announcement, expressed his government’s commitment to furthering renewable energy development. He announced plans for more auctions to be held in the coming years, signaling Norway’s intent to become a leader in offshore wind energy.
While Equinor, a Norwegian energy company, also participated in the auction, it was the Japanese consortium that emerged victorious, signaling a new chapter in Norway’s renewable energy journey. With ambitious goals set for the future, Norway is poised to make significant strides in reducing its carbon footprint and embracing a sustainable energy future.
(Source: Reuters | Asahi)
