We’re determined to be a global offshore wind energy major. Here’s how.
The next decisive phase in the global transition to low carbon and renewable energy is happening now, with offshore wind at the centre of the revolution. For the green shift to succeed, what’s needed is sheer scale: industrial and financial strength, and production capacity at a global level
That’s where we come in. With five decades of ocean engineering and project management expertise, focus on safe and efficient operations, in depth knowledge of the energy markets, skilled personnel and a network of competent partners and suppliers, Equinor is uniquely positioned to take a leading role in this burgeoning industry.
Equinor is well underway to deliver profitable growth in renewables and being a leading company in the energy transition. We have a solid platform to deliver on our value-driven strategy. We will continue to build a material business, looking to increase returns on offshore wind through regional synergies, project financing and strategic farm downs, using our early mover capabilities in selected markets to achieve scale at low cost.
We plan to reach an installed net capacity of 12-16 GW by 2030. Two-thirds of this capacity will be within offshore wind.
World’s first floating wind farm offshore Scotland
Hywind Scotland is the world’s first floating wind farm, powering around ~36,000 British homes
Enough energy to power ~1,000,000 European homes
We produce enough energy to power more than one million European homes with renewable energy from offshore wind farms in the UK and Germany
New York: home to our first wind project outside Europe
Empire Wind is Equinor’s first wind project outside of Europe, offshore New York, potentially producing up to 2000 MW of electricity
What is the future potential for offshore wind?
- The International Energy Agency’s first Offshore Wind Outlook 2019 indicates a 1 trillion USD industry opportunity by 2040 and the chance to be one of the top power production technologies across the globe
- Offshore wind already has a strong foothold in Europe with close to 18.5 GW installed capacity, and global potential to reach more than 100 GW by 2030. Of this, floating offshore wind is estimated to constitute 10% of the market, potentially powering 12 million homes in 2030.
- Through larger wind turbines, better design and streamlined operations, costs are decreasing while efficiency is increasing. We believe that offshore wind, over time, increasingly will become commercial without support schemes.
- We believe floating offshore wind is the next wave in renewable energy and are excited about the possibilities that this new technology unfolds.
What are Equinor’s key strengths?
- Safety is our first priority
- Experience with large complex projects and supplier relations
- Financial strength and risk management
- Leveraging local presence and corporate capabilities
- Marine operations and maintenance
- Technology and innovation
Floating is the future of offshore wind
Freeing wind power from the constraints of bottom-fixed designs opens a world of new markets and opportunities. Floating turbines can be placed almost anywhere where the water is deep enough, harnessing the best wind resources and reducing conflicts with other ocean users.
Close to 80% of the world’s offshore wind resource potential is at waters deeper than 60 metres. Removing water depth constraints allows us to select the best sites in the world. Winds are stronger and more consistent further out to sea, and the floating offshore wind market is projected to grow significantly over the next decade.
Our offshore experience from the North Sea and around the world makes us uniquely qualified to lead the way and further develop floating offshore wind. We employ a technology-agnostic approach, meaning we will select the best suited floating wind technology for the given project.
Where in the world?
Our international portfolio of wind power
Equinor is building material offshore wind clusters in the UK, the US North East and in the Baltic Sea. Offshore wind is an important enabler in the world’s energy transition, and we will use our offshore experience and capabilities to develop the industry further.
Our experience of operating in the demanding conditions in the North Sea has given us insight and knowledge that is transferable to offshore wind projects.
Our ambition is to become an offshore wind major. Here is an overview of our current wind portfolio.
Offshore wind power in the UK
Equinor has long experience with wind power in the UK, having already built and put into operation Sheringham Shoal, Dudgeon and Hywind Scotland, the world’s first floating offshore wind farm. Now we’re partnering with SSE Renewables and Eni to deliver Dogger Bank – the world’s biggest offshore wind farm and an important milestone in delivering UK’s Sector Deal ambitions and decarbonisation goals.
Offshore wind power in the US
Equinor is pursuing the development of offshore wind projects on the east and west coast of the United States and is quickly becoming a leader in the country’s growing offshore wind industry.
In January 2021 Equinor was selected to provide New York State with offshore wind power in one of the largest renewable energy procurements in the U.S. to date. Under the award, Equinor and our partner, bp, will provide a total of 3.3 gigawatts (GW) of power to the State.
Offshore wind power in Poland
For Poland, our ambition is to be a preferred partner contributing to the Polish energy transition and the Norwegian-Polish energy cooperation.
Equinor has interest in all three Baltyk offshore wind development projects (MFW Baltyk III, MFW Baltyk II and MFW Baltyk I). With interest in all three projects, we can build scale and value in what we see as an important energy region.
Offshore wind power in the Norwegian North Sea
Offshore wind will be a key component in the future energy mix and one of the solutions for meeting the increasing demand for renewable power and enabling the energy transition in Norway and Europe, building new industries and jobs.
The North Sea has some of the world’s best wind resources and large-scale offshore wind has the potential to create new industrial opportunities for Norway as an energy nation. Equinor’s decades of operating experience in these demanding conditions has given us unparalleled insight and knowledge that is directly transferable to develop wind projects in the Norwegian North Sea.
Hywind Tampen
We are developing the first floating offshore wind farm to supply renewable power to oil and gas installations in Norway. The Snorre and Gullfaks oil and gas platforms will be the first ever powered by a floating offshore wind farm.
For more information about Hywind Tampen, see our links below.
Utsira Nord
A floating offshore wind farm at Utsira Nord could be the next floating offshore wind project at scale needed to continue to mature this exciting and proven technology forward.
Together with Vårgrønn we have the industrial experience and capabilities to develop a full-scale floating offshore wind farm at Utsira Nord.
Equinor is the world’s leading floating offshore wind developer with floating wind turbines already deployed and in production: Hywind Scotland proved the technology, Hywind Tampen shows our ability to build scale.
Developing a floating offshore wind farm at Utsira Nord will be the next industrial project at scale needed to continue to develop a competitive Norwegian offshore wind supplier industry. Norwegian suppliers have started the transition and we believe a strong home market will give opportunities that strengthens their global competitiveness.
Sørlige Nordsjø II
A large-scale offshore wind farm at Sørlige Nordsjø II that delivers renewable energy to Europe would contribute to further develop the North Sea as an offshore energy hub, and create new industrial opportunities for Norway as an energy nation.
Equinor, RWE and Hydro share the same commitment of contributing to the energy transition. Combined we bring a broad and complementary set of experience and capabilities in all parts of the offshore wind value chain from development, production, and route to market.
International wind farm projects
In addition to our offshore wind presence in the UK, the US and Poland, we are present in the following markets: