Norway identifies four more offshore wind development sites

Norwegian authorities have identified four additional areas suitable for offshore wind development.

The government is currently conducting consultations on the findings before deciding which area it would proceed with.

The country plans to open enough acreage by 2040 to allow for the development of 30GW of offshore wind projects, increasing its capacity by around 75%.

Initially, the Norwegian Water Resources and Energy Directorate (NVE) identified 20 offshore wind deployment areas.

The government has already chosen two of the three areas previously assessed. Soerlige Nordsjoe II and Utsira Nord, Norway’s first offshore wind farms, have been offered state support of $2.26bn and $3.48bn, respectively. Currently, offshore wind in Norway is not profitable without governmental financial support.

The four new areas are all located in southern Norway, as it provides better wind conditions. If wind farms are built there, the NVE believes that there will be limited consequences for fisheries and the environment.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.