Norway's Offshore Wind Project Goes to Ventyr in Historic Auction

In a historic event, Ventyr, a Belgian-Dutch company, secured the offshore wind project in the Southern North Sea II, with a capacity of 1.5 GW, near Norway's sea border with Denmark. This marks a significant step in Norway's renewable energy investment, aligning with the government's target of 30,000 MW by 2040. The winning consortium, Ventyr, consisting of Ingka Investment and Parkwind, emerged with a bid of 115 øre per kilowatt hour. Despite initial skepticism and challenges relating to profitability, the auction signifies a positive signal for the industry in anticipation of cost reductions. The success of this project underscores Norway's commitment to offshore wind development and sets the stage for further advancements in renewable energy.