Norwegian Offshore Wind

Pause offshore wind in Norway? Certainly not 🛑 Great discussions today on the recommendation from the Fiscal Policy Committee. The main points from us and Offshore Norge: 👉 The Fiscal Policy Committee claims that the state should not support the development of unprofitable power production but instead import electricity at a low price when the wind is blowing around us. ✅ Our comment: This requires the expansion of more interconnectors to Europe. 👉 The Fiscal Policy Committee: Conditions should be facilitated for profitable, non-subsidized power production in Norway. ✅ Our comment: Onshore wind power is the only source of large-scale power production in the near future. 👉 The Fiscal Policy Committee: Increased demand for electricity indicates a higher valuation of this good. In a well-functioning market, actors will adapt to this situation by increasing production of the cheapest power that has yet to be developed. ✅ It has proven difficult to establish sufficient new power production in today's electricity market to ensure a rapid and necessary climate transition. ✅ Even the most cost-effective production technologies require a permit. This is a time-consuming and uncertain process in most countries, increasing the risk for commercial actors. ✅ The last concession for onshore wind power in Norway was granted in 2019. ✅ In most countries, the state plays an active role in developing new power production capacity. 👉 The Fiscal Policy Committee: Offshore wind is among the most expensive forms of power production, and according to NVE, achieving profitable operations in Norwegian offshore wind may be challenging. ✅ Bottom-fixed offshore wind projects with hybrid grid solutions will eventually become socio-economically profitable in Norway. ✅ The costs of floating offshore wind are expected to drop significantly as a result of technological improvements and industrialization. ✅ NVE estimates 29 TWh (6.2 GW) of offshore wind capacity will be developed by 2040 in its LMA 2024. ✅ The projects and countries that take the lead will help reduce costs for future projects. 👉 The Fiscal Policy Committee: It is also paradoxical that many policy proposals are motivated by "creating jobs," when the government's long-term perspectives report simultaneously highlights labor shortages as a key challenge moving forward. ✅ A targeted investment in offshore wind can compensate for an expected decline in activity in the oil and gas sector. ✅ A successful investment in industrial development related to offshore wind will ensure that technology and expertise built around the oil and gas industry are carried forward. ✅ Offshore wind will be the least painful transition, as it largely requires the same expertise. Thank you to the brilliant minds we had with us on stage today: Erik Dugstad - Daniel Rogstad - Offshore Norge - Gisle Natvik - Knut Arild Hareide - Eli Wærum Rognerud - Roger Pedersen -Anders Lie Brenna - Arvid Nesse

Let's talk about the weather 🌦️ Our member Obsima Technology AS offer weather sensor dato for the offshore wind industry. They take pride in themselves on delivering cutting-edge solutions tailored to meet the unique needs of their clients. As an authorized dealer of Lambrecht weather sensors, Rolatube mast systems and Invisio headsets and intercom (among others), they offer expertise and top-quality products that ensure reliability and performance in the most demanding environments. -Our ambition is to lead the way in providing innovative communication solutions and weather sensor data for the offshore wind industry, ensuring safety and efficiency in every operation, says Kenneth Haugseth, Technical Sales Engineer - Industrial Market LAMBRECHT meteo GmbH -INVISIO - Rolatube Technology

BREAKING NEWS: Proposed Combination of Saipem and Subsea7. The new Saipem7 will have a combined backlog of €43 billion. Saipem and Subsea7 announce that today they have reached an agreement in principle on the key terms of a possible merger of the two companies through the execution of a memorandum of understanding.The Proposed Combination is expected to create a global leader in energy services. ✅ The combination of Saipem and Subsea7 (the “Combined Company”) will be renamed Saipem7, and will have a combined backlog of €43 billion, Revenue of approx. €20 billion and EBITDA in excess of €2 billion. ✅ A global organisation of over 45,000 people, including more than 9,000 engineers and project managers ✅ Saipem and Subsea7 shareholders will own 50% each of the share capital of the Combined Company ✅ Completion anticipated to occur in the second half of 2026 Ingunn Kalve - Helge Myrvang

✅ Get the latest updates from the Italian market ✅ Secure your ticket and hotel room for Floating Wind Days ✅ Come with us to Greece! ✅ Get to know our featured member Green Ducklings and explore upcoming events. Prepare for a new week with our weekly news!

Floating Wind Days is only 90 days away 🎊 This unique festival experience brings together people from more than 30 countries in Norway! Tickets are now on sale via Floating Wind Days. 2025 will be a pivotal year for the global floating wind industry - come join the important discussions and experience the latest in technology and innovation! We are of course taking all our guests to see the turbines at the Marin Energi Testsenter AS (METCentre), which will be happening the evening of May 20 this year. We can't wait to see you there - and remember, you must book your hotel room at the same time as your tickets. We want to make sure that everyone will get a comfortable place to sleep, so we have reserved all the hotel rooms in the area! Feel free to reach out to our team with questions: Booking: Hilde Øygarden Program: Arne Vatnøy and Kristin Davidsen Expo: Hanne Tvedt

Navigating complexity in offshore wind 🌬️Our member Green Ducklings is at the forefront of offshore wind developments. They are supporting developers and supply chain companies in both floating and fixed-bottom offshore wind sectors. With a combined experience of more than 100 years, Green Ducklings deliver strategic guidance, supply chain analysis, go-to-market strategies, lease bid management, investment services and technical analysis, all designed to help clients succeed in the rapidly evolving offshore wind market. As a trusted advisor to decision-makers across the entire value chain, they provide unparalleled commercial insights and executive overviews, backed by deep technical knowledge. With a network of industry experts and a team of 15 offshore wind specialists, Green Ducklings has supported over 60 clients in optimizing decision-making and go-to-market strategies. - In today’s market, characterized by a chicken-or-egg paradox, where developers are waiting for secured long-term capacity and suppliers are waiting for investment, we help our clients navigate these complex supply chain dynamics. Our focus is to ensure both sides can make informed, strategic decisions for future growth, says Kristian Ascanius Jacobsen, CEO of Green Ducklings. Green Ducklings is majority owned by Integrated Wind Solutions ASA.

Norway and Japan build on each other's strengts in offshore wind. Already these two nations are driving the industry forward together 🇯🇵 🇧🇻 During the Japan-Norway Offshore Wind Seminar, brilliantly hosted by the Norwegian Embassy in Tokyo - ノルウェー大使館, more than 120 stakeholders met to discuss the road ahead for our two markets. The future is floating, and although we are facing challenges, the innovations and expertise presented today made us all aware that collaboration will make us succeed! Thank you to our friends in Team Norway for opening doors together with us: Innovasjon Norge - Norwegian Energy Partners (NORWEP) - Eksfin - Eksportfinansiering Norge - Business Norway Per Christer Lund - Marianne Støren Berg - Astrid Green - Svein Grandum - Marianne Aronsen

Let's go, Tokyo 🏃♀️➡️ This week we are showcasing our members' offshore wind expertise to the exciting Japanese market 🇯🇵 Norway and Japan are deeply connected through offshore wind. During our Visit NOW to Tokyo prior to the Smart Energy Week, nine companies get to explore collaboration opportunities through meetings and networking. We are proud to show off the brilliant minds of Reach Subsea, Source Galileo Norge, ECO TLP INC, OneSubsea, Vestervind Contractors, Eksfin - Eksportfinansiering Norge, Green Digital AS, Autronica Fire and Security AS and Main(e) International Consulting. Great to have you with us! Morten Grevstad - Bill Petrie - Gunnar Birkeland - Alexander Overgaard - Arill S. Hagland - Susanne Starheim-Grøtter - Ivar Løvberget - Anders Westrheim - Derrick Tan - Joe Fu - Annette Bossler - Astrid Green - Arne Vatnøy

✅ Join the debate on the Fiscal Policy Committee's recommendation to pause offshore wind in Norway ✅ Showcase your company at WindEurope Annual Event in Copenhagen ✅ Learn more from the expertise in ABB in our next Boostcamp Norway ✅ Get to know our featured member Global Onsite AS and check out our upcoming events! Prepare for a new week with our weekly updates! Business Norway

Offshore wind contract altert ❗ Our member Aker Solutions Awarded Contract for BalWin 1 Offshore Wind Project. Aker Solutions has signed a significant contract with DRAGADOS OFFSHORE to deliver the steel substructure for the 2GW HVDC converter station for the BalWin1 offshore wind grid connection system in Germany, for Amprion Offshore GmbH. The contract also includes an option for the BalWin 2 steel substructure.  Each of the BalWin 1 and BalWin 2 grid connection systems consist of a 2.0 Gigawatt HVDC offshore and onshore substation for the transmission of renewable electrical energy. Amprion Offshore GmbH is the transmission system operator responsible for these systems. With a total transmission capacity of 4 GW, the Balwin 1 and 2 projects can supply enough electricity to power a major city like Berlin. "We are proud that Dragados Offshore has selected Aker Solutions as the contractor for the BalWin 1 steel substructure. We have over decades developed substantial expertise and track record for delivering predictable execution of demanding projects. The new contract is aligned with our strategy to grow our activities within renewables and low-carbon projects," said Sturla Magnus, Executive Vice President for Aker Solutions’ New Build segment. Fabrication of the HVDC substructures will be executed by Aker Solutions’ yard in Verdal, Norway. At its peak, the project will employ over 500 people. For Aker Solutions, the scope involves procurement, method engineering and construction of the offshore HVDC converter platform substructures. Preparation for procurement and method engineering will commence immediately, while construction is scheduled to begin in early 2026, with deliveries in 2028 and 2029. Aker Solutions will book the award, excluding option value, as order intake in the first quarter of 2025 in the Renewables and Field Development segment. 1Aker Solutions defines a ‘significant’ contract as being between NOK 1.5 billion and NOK 2.5 billion Hallvard Norum - Øyvind Kyvik - Mari Djupvik Bråthen