A new analysis shows that Norway’s first two offshore wind projects could cut average electricity prices by 6.4 øre per kilowatt-hour. The study, commissioned by the Norwegian Offshore Wind Cluster, was released on Tuesday. It covers the Sørlige Nordsjø II and Utsira Nord areas. These projects are expected to add 1.5 gigawatts of capacity by 2030.
The report estimates total savings of about 1.8 billion kroner annually once the farms are operational. Savings would come from lower wholesale prices and reduced reliance on gas-fired generation. Norway’s grid operator Statnett has already identified bottlenecks that offshore wind could help relieve.
Industry players say the projects will also cut emissions by around 2.3 million tons of CO₂ each year. That matches Norway’s target to reduce emissions from the power sector by 2030. The government plans to award licenses for these areas in 2025.
Critics warn that grid upgrades and floating foundations could push costs higher than projected. The Norwegian Water Resources and Energy Directorate will review the report before final decisions are made.
Source: tu.no