Swedish multinational Vattenfall and Norwegian company Seagust have formed a joint venture to bid for offshore wind areas in Norway’s upcoming licensing rounds. The joint venture represents Vattenfall’s entry into the Norwegian wind market.

The new JV intends to bid on licenses in both the Utsira Nord and Sørlige Nordsjø II areas in the North Sea. The Norwegian government has announced plans to build up to 4.5 gigawatts from both floating and bottom-fixed wind turbines, and the licensing rounds are expected to take place within 2022.

“Norway is an attractive market to us with huge wind resources and we are delighted to see the growing support from the Norwegian government,” remarked Helene Biström, Head of BA Wind Vattenfall. “This joint venture offers us a great chance to deliver affordable energy to industry and customers in line with our goal to enable a fossil-free living within one generation.”

“A top contender” in Norway’s initial offshore wind resource licensing round

Seagust was established in 2021 by industrial investment companies Arendals Fossekompani (AFK) and Ferd. The company’s stated ambition is to become an offshore wind developer with domestic and international operation, backed by the owners’ experience, capital and industrial network.

“Seagust is a perfect partner for us, since the owners have an impressive history and track-record of building industries, creating local jobs and focusing on sustainability at the same time,” continued Ms. Biström. “We are dedicated to working closely with Seagust and Norwegian suppliers to pursue offshore wind opportunities in Norway.”

Simen Elvestad, CEO of Seagust, said his firm was “thrilled” to co-operate with Vattenfall – one of Europe’s largest operators of offshore wind. “[Vattenfall] have experience in leading every phase of a project, from consenting, construction and through to operation – their track record of successful offshore wind projects is truly impressive,” Mr Elvestad remarked. “Our joint venture is now positioned as a top contender in the initial round of licensing of Norwegian offshore wind resources.”