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Majors form offshore wind consortium for Norwegian North Sea bid

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Today, British multinational oil and gas Company bp announced it will join Statkraft and Aker Offshore Wind in a consortium bidding to develop offshore wind energy in Norway. Accordingly, the partnership – will leave bp, Statkraft, and Aker Offshore Wind with a 33.3% share. Besides, it will pursue a bid to develop offshore wind power in the Sørlige Nordsjø II (SN2) license area.

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In fact, SN2 has a favorable location that provides it with power export access to local and adjacent markets.

About the consortium

Similarly, the consortium will also explore opportunities to provide clean power to electrify offshore oil and gas facilities. In this way, the partnership would work with local suppliers, building industrial competencies for Norway’s offshore wind market.

Finally, the consortium will look to contribute toward value creation in the Nordic and European energy markets.

According to a media release by the consortium’s parties, they will bring together the individual companies’ strong technical skills and deep experience in offshore energy projects. Therefore, they will be able to cover the complete value chain from development to the delivery of offshore renewable energy to the market.

bp’s participation

Particularly, bp has interests in the offshore wind sector in both the US and UK. Besides, it counts with a longstanding onshore wind business in the US.

Therefore, it will bring robust North Sea development and operating experience. Moreover, the Company will leverage its international energy trading capabilities. Finally, it will add a disciplined financial framework to the partnership.

Accordingly, Dev Sanyal, bp’s executive vice president of gas and low carbon energy, said in a statement; “bp aims to grow our renewables business at scale. Thus, we see great opportunities in offshore wind energy.”

In fact, “we have decades of offshore experience in the North Sea and will also bring our extensive trading capabilities and strong relationships in Europe.,” continued Sanyal. Therefore, “coming together with Aker and Statkraft, we believe this consortium will be ideally positioned to effectively and efficiently grow and deliver clean power for European markets. Also, to strengthen the supply to Norway when needed.”

On Statkraft’s side

Similarly, as Europe’s largest producer of renewable energy, Statkraft’s expertise in energy management will provide a foundation in developing SN2. Besides, the company has a long history, experience, and competence in wind farm development.

In this way, Christian Rynning-Tønnesen, chief executive of Statkraft, said; “We have extensive capability from the development and operation of onshore wind around the world. Besides, we have experience in significant offshore wind projects in the United Kingdom and Ireland.”

Thus “strong growth, decreasing technology costs and the involvement of industrial and financial players all indicate the rising role that offshore wind will play in Europe,” Rynning- Tønnesen continued. Finally, “our partnership with Aker and bp will create significant value and contribute towards Europe’s energy transition.”

Aker and the partnership

Lastly, Aker brings to the project its learnings and know-how from five decades of designing and executing offshore projects in the North Sea; indeed, the company has experience as a supplier, developer, and operator.

Accordingly, Aker Horizons will work closely with the consortium on topics including strategy and financing. Besides, the partnership will also benefit from the broad capabilities of its companies, including Cognite and Aker Solutions.

Therefore, Kristian Røkke, Chairman of Aker Offshore Wind and CEO of Aker Horizons, concluded; “Our partnership has the potential to redefine Norway’s position as an energy nation. Besides, the consortium’s joint capabilities are building blocks to lead the energy transition.”

Thus, “together with Statkraft and bp, we will work to develop the Norwegian offshore wind industry, reduce emissions and create new jobs,” added, Røkke.

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