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Norway plans to launch a €3bn floating offshore wind support scheme

The Norwegian government has proposed in its 2025 National Budget a NOK35bn (€3bn) support scheme dedicated towards its first floating offshore wind tender within the Vestavind F and Vestavind B areas. Norway expects to conduct the tendering round in 2025, to eventually hold regularly scheduled rounds and state aid competitions leading up to 2040. The Norwegian Water Resources and Energy Directorate (NVE) was tasked with conducting a strategic impact assessment of 20 areas that may be suitable for the development of offshore wind. The first three assessments (Vestavind F, Vestavind B, and Sørvest F) are scheduled to be completed by November 2024 and the remaining 17 areas to be completed in June 2025. 

Considering the country’s potential for floating offshore wind and the immature state of the technology, the supporting scheme aims to accelerate its development to achieve the country's goal to allocate project areas for 30 GW offshore wind by 2040. As of end 2023, wind represented 12% of Norway’s installed capacity with over 5 GW and covered 9% of the total power generation.