Five companies have submitted applications for a total of 9 billion kroner in funding from Enova for floating offshore wind projects in Norway, showcasing a robust interest in renewable energy investments from the business sector. Oskar Gärdeman, head of offshore wind at Enova, commented that this interest persists despite challenges such as increased project costs and general uncertainty that the industry has faced in recent years. Enova, a state-owned enterprise under the Ministry of Climate and Environment, aims to support the government's efforts in the green transition of industry.

The funding decisions for these offshore wind projects will be announced in the upcoming spring, signaling a critical phase for the applicants. Enova also hinted at the possibility of an additional application round later this year or next year, which might allow more companies to enter the competition for financial support. Each application involves setting up demonstration facilities with one to five floating wind turbines, with a maximum funding limit of two billion kroner per project.

Building offshore wind turbines represents a significant financial challenge, especially exacerbated by rising material costs attributed to the aftermath of the COVID-19 pandemic. The substantial interest shown by the five companies could pave the way for advancing Norway's ambitions in renewable energy and contribute to the global shift towards greener energy solutions, as countries seek to reduce their carbon footprints and combat climate change.