Statkraft, Europe's largest renewable energy producer, Aker Offshore Wind and Aker Horizons have signed a cooperation agreement to explore offshore wind project opportunities in Norway.

The companies will combine their strong, complementary skills and expertise to work together to explore the possibility to develop, operate and deliver power from commercial scale offshore wind facilities in Norway. Last year, the Norwegian government announced it will open for applications for licenses for the development of wind power in two areas in the North Sea, namely “Utsira Nord” and “Sørlige Nordsjø II”. The cooperation will explore the opportunity for bottom-fixed offshore wind at Sørlige Nordsjø II (“SN2”), for which the companies will establish an integrated project team, 50/50 split between Aker Offshore Wind and Statkraft, for joint preparation and submission of an acreage application and further development activities.

Statkraft’s ambition is to be a world leader in renewable energy and as part of this, is building out a significant presence as a wind and solar developer. The company sees an opportunity to build on these existing skills and explore offshore wind possibilities in Norway together with Aker Offshore Wind and Aker Horizons. The opportunity is driven by falling investment costs, the location of “SN2” project facilitating export of the power produced offshore to other European markets and the electrification of Norwegian oil & gas installations. 

“By entering a cooperation with Aker Horizons and Aker Offshore Wind, we are exploring a value-creative opportunity in Norway. We have expertise in the development and operations of wind power and have previously been engaged in offshore wind in the UK. Strong growth, falling technology costs and a changed competitor landscape indicates that offshore wind will take a larger role in the European energy transition; therefore, we see the cooperation with Aker as an opportunity for substantial value creation and accelerate Europe’s green transition,” says Statkraft Chief Executive Officer Christian Rynning-Tønnesen.

“Statkraft has been making clean energy possible for over a century. A partnership that couples Europe’s largest renewable energy producer with Aker’s 180-year track record and industrial expertise, especially on the NCS, has the potential to redefine Norway as an energy nation. Norway’s leading offshore industry, including a strong supplier industry, means we already have the building blocks and capabilities in place to be at the forefront of the energy transition. We look forward to working with Statkraft to develop the offshore wind industry further, reducing emissions and creating new jobs for the future,” says Øyvind Eriksen, President and Chief Executive Officer of Aker ASA and Chairman of Aker Horizons.