For decades, Equinor has been developing resources beneath the seabed with the help of floating installations. Now, our intention is to capitalise on these advantages when developing large-scale offshore wind farms, safely and efficiently. Utilising existing and familiar technologies in new combinations can be the start of a new industrial adventure for Equinor.
Equinor is the world’s largest offshore operator, with more than 45 years of project experience in developing and operating large and complex oil and gas structures. Hywind’s floating foundation, or substructure, bears a close resemblance to oil and gas spar platforms — for instance, the new Aasta Hansteen gas field in Norway.
For Equinor, this represents a natural and logical connection between our offshore wind developments and our traditional core business, oil and gas. The deep draft design of spars makes them less affected by wind, wave and currents. Because of the similarities in structure, we can draw on technical and operational synergies.
We also have other advantages we can draw upon from our oil and gas heritage:
- Leveraging or global presence and supply chain: with a presence in more than 30 countries, we know the importance of developing strong stakeholder relations and translating our presence into clear benefits for local communities.
- Ability to apply research and technology to reduce energy cost: Equinor's research budget this year totals NOK 2.6 billion. In 2020, Equinor will spend 25% of the research funds on developing low carbon solutions and renewable energy opportunities.
- Developing competitive financing, development and operations: Equinor has the capabilities, balance sheet and experience to lift capital intensive and complex projects such as wind farms.
- Safe and efficient operations: Equinor has significant operational experience from a marine environment, with a strong focus and track record for safe operations.