Mr Takashi Tada, Head of Renewable Energy Division in Kansai Electric Power and Mr Per Lund, CEO in Odfjell Oceanwind at the signing ceremony.

The leading Japanese utility company, Kansai Electric Power Company Ltd. (Kansai)is, through a private placement, becominga shareholder in Odfjell Oceanwind. With an annual production capacity of more than 85 TWh per year and 8,500 employees in more than 10 countries, Kansai is a largeglobal utility company with electricity production from nuclear, coal, natural gas, hydro power, wind and solar power plants. Following their entry into Odfjell Oceanwinds floating offshore wind projects GoliatVIND and UtsiraVIND in 2023, Kansai now becomes OOWs third largest shareholder after the Odfjell family and the Japanese shipping giant Mitsui O.S.K. Lines, Ltd (MOL).  

Odfjell Oceanwind, together with its partners Source Galileo Norge and Kansai Electric Power Company, has received 2 billion nok (approximately 190 million usd) in capex grant for the GoliatVIND project. GoliatVIND is a 75 MW demonstration project for floating offshore wind. The project has selected Odfjell Oceanwind’s Deepsea Star™ semisubmersible foundation technology and will use Odfjell Oceanwind’s supply chain.

Odfjell Oceanwind, together with the leading automation and manufacturing expert Prodtex, have established a joint venture to address what is expected to become one of the biggest bottlenecks in scaling the floating offshore wind industry: low cost and high-capacity manufacturing of foundations for floating wind turbines. The joint venture is created to establish the production capacity necessary to meet the need for hundreds of floating wind foundations per year in Europa alone and is looking to have its first facility operational by 2027. Recently, the industry veteran Geir Bjørkeli, former CEO of Corvus Energy, has been appointed to head up the venture.

The project can add 320 GWh of renewable energy to the Hammerfest region. The park is planned to be in operation in 2027 so that the experience can be used further in Norway's floating offshore wind investment, including at Utsira Nord.

Following a recent private placement, Mitsui O.S.K. Lines, Ltd. (MOL) has become a shareholder in Odfjell Oceanwind, thus becoming an important strategic partner to the company. MOL is one of the largest shipping companies in the world with headquarter in Tokyo, Japan. The transaction generates significant capital which will be used to further strengthening Odfjell Oceanwind’s position as a global leader and frontrunner in floating offshore wind technologies. Odfjell Technology Ltd. combined with the Odfjell family’s direct investment will remain the largest shareholder in the company.

The transaction team at the signing ceremony in Oslo.

Utsira Nord, Norway – A dynamic offshore wind consortium committed to advancing Norwegian renewable energy has been expanded. The UtsiraVIND Consortium, originated as a partnership between ODFJELL OCEANWIND, a market-leading Norwegian provider of floating offshore wind technologies and SOURCE GALILEO, a fast-growing European renewable energy platform, concentrating on offshore wind development.

Kjell Gievær, Director of Arctic Energy Partners and Gunnar Birkeland, CEO of Source Galileo Norge.

Source Galileo and Odfjell Oceanwind have partnered with Arctic Energy Partners to realise a pilot project for floating offshore wind at the Goliat platform in Northern Norway.

Odfjell Oceanwind’s floating wind foundation Deepsea Star™ has been selected for the GoliatVIND wind park located in the Barents Sea which is currently under planning. The project is being matured by a consortium consisting of Source Galileo and Odfjell Oceanwind and is aiming at installing three to five floating wind units, each carrying a 15MW wind turbine generator, with an earliest operational startup in 2026.   

Odfjell Oceanwind, Source Galileo Norge and Vår Energi have started collaborating on a pilot project for floating offshore wind at Goliat.