Norway adjusts Utsira Nord support terms following external assessments
Offshore windEnergy transitionAuctions, support and marketsFinance and investment+4
Norway has completed external assessments of technology development, economic benefits and state risk for Utsira Nord floating offshore wind. The government plans to lower the cancellation penalty before a final investment decision and pay some investment support earlier, while retaining the NOK 35 billion ceiling in 2025 prices. The support scheme is intended to enable one 500 MW project, estimated to produce around 2 TWh annually; the two awarded developers must first mature their projects and seek licences.