Rising costs prompt Equinor to end the floating wind project

Norwegian state oil company, Equinor, has abandoned its Trollvind floating wind power project on the Norwegian continental shelf due to increasing costs. The 1 GW floating wind farm, intended to be around the Troll oil field, was to be connected to an onshore substation via a grid. The aim was to provide green energy to the Troll and Oseberg offshore oil platforms. However, the project became unsustainable due to cost inflation and supply chain challenges, says Equinor. The desired technology was also unavailable, prompting technical changes to be required, while the deadline imposed upon the project was extremely tight. 

Equinor was originally set to work with Petoro, TotalEnergies, Shell and ConocoPhillips on the project. The move has delayed Equinor’s ambition to lead in floating offshore wind turbines. The cancellation came after a similar project was proposed, but the offer was not accepted. Equinor will continue to seek future opportunities in the floating wind sector, however, having pioneered the development of the Hywind Scotland and Hywind Tampen projects.  

According to Equinor CEO Anders Opedal, Trollvind was going to provide more green power to a region lacking in scarcity as well as help Norway maintain its leadership position in floating offshore wind turbines. Achieving the 40 to 50 percent reduction in emissions intensity that Norway set targets for in 2020 will require platform electrification and new sources of green energy. Equinor said it will continue to look for future opportunities in the floating wind sector, where it has previously built the development of the Hywind Scotland and Hywind Tampen projects.

The cancellation is a setback for Equinor’s floating wind ambitions, following setbacks in the market. Equinor previously had plans for a 500 MW floating wind farm development in Scotland via the Kincardine project. But the project was affected by disputes and onshore grid connection issues with the main purpose being to connect the power to shore-based networks.

Tags: Equinor


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