The initiative is part of Innovation Norway’s High Potential Opportunities (HPO) programme for major export initiatives. The aim is to position Norwegian suppliers within offshore wind in the US East Coast market.
Norwegian enterprises have opportunities to win major contracts when more than USD 100 billion is invested in offshore wind in the US. The US is aiming to increase offshore wind output from its current level of 42 MW (megawatts) to 21 GW (gigawatts) by 2030. Norwegian companies can bid for these licences or position themselves as subcontractors of the chosen contractor.
The analysis company Menon believes that Norway could, with the right investment and initiatives on the part of the business support system, capture up to 20 percent of the global market for floating wind farms. It estimates that the initiative could generate value of NOK 117 billion and jobs equivalent to almost 130,000 FTEs.
Norway’s oil sector experience gives us an advantage in the development of offshore wind. We were an early developer of new technology and are well equipped to win international tender competitions. A number of Norwegian enterprises and organisations have expressed an interest in the US market initiative. Some of the enterprises supply, for example, subsea cables, new floating solutions or foundations. Other enterprises contribute to design and engineering, installation, support, maintenance and inspection.
Vessels that want to operate in US waters must be built in the US. There is no existing fleet for installing and operating offshore wind farms. This means that there are huge opportunities for the Norwegian vessel equipment industry regarding deliveries to US shipyards. Norwegian companies have already won contracts for deliveries to vessels under construction.
HPO projects bring together Norway’s entire business support system and other members of Team Norway. Norwegian enterprises receive help from Innovation Norway’s regional and international offices, embassies, Export Finance Norway, NORWEP, chambers of commerce and other partners as needed. Team Norway contributes through a bespoke package of services based on the opportunities in the market and business needs. The activities range from political dialogue, financing, networking and marketing to advice for individual enterprises in the market.
The contributors to the offshore wind project on the US East Coast.:
- Norwegian Embassy in Washington
- Consul General New York
- Innovation Norway’s offices in New York, Houston and Palo Alto
- Innovation Norway’s head office in Norway
- Innovation Norway’s regional offices in Norway, including financial advisers
Steering group for Offshore Wind USA (4 Subsea, Nexans, AKSO, Equinor, Fred Olsen Wind Carriers, Tampnet, etc.)
Norwegian enterprises will be recruited to the programme over the next three to six months.
The project manager is Antonio.Raposo@innovationnorway.no, + 1 646 541 1343