Equinor (NYSE:EQNR) and its partners launched the world’s largest floating offshore wind farm on Wednesday, saying it will supply nearby oil and gas platforms while cutting their greenhouse gas emissions.
The Hywind Tampen wind farm started producing power last November, with full production reached earlier this month, as its 88 MW of capacity will cover ~35% of annual power demand for five platforms at the Snorre and Gullfaks oil and gas fields in the North Sea off Norway’s west coast.
The companies expect the wind farm will reduce carbon emissions by 200K metric tons/year, or 0.4% of Norway’s total CO2 emissions in 2022.
Hywind Tampen comprises 11 wind turbines fixed to a floating base that is anchored to the sea floor, rather than fixed to the ocean bed, a new technology that seems suitable for use in deeper waters offshore that Equinor (EQNR) hopes to develop.
The technology is still in its infancy and costs at Hywind Tampen have jumped from an initial estimate of 5.2B Norwegian crowns (~$490M) in 2020 to 7.4B crowns, driven by raw material delays, quality issues, inflation and currency effects.