Two Japanese power companies, JERA Co. and Chubu Electric Power Co., have joined a consortium that has won the bid to develop Norway's first offshore wind farm. The consortium also includes Ingka Group, the owner of IKEA, and Parkwind, a Belgian company acquired by JERA in 2023.
The wind turbines will be located on the continental shelf in the North Sea and are expected to be operational by 2030. The wind farm is projected to generate 1.5 gigawatts of electricity, and the Norwegian government will contribute up to 23 billion krones (approximately $2.1 billion) to the project.
Norway, despite its abundant natural gas and petroleum resources, has lagged behind other northern European countries in developing renewable energy sources. However, the government has set a goal of generating 30 gigawatts of electricity through offshore wind farms by 2040.
Norwegian Prime Minister Jonas Gahr Støre emphasized the government's commitment to holding more auctions for additional wind farm construction projects in the future. Norwegian energy company Equinor also participated in the auction.