NHYDY Norsk Hydro ASA (QX)

By Dominic Chopping

Equinor ASA said Wednesday that with RWE Renewables and Hydro REIN they have signed a collaboration agreement for offshore wind in Norway.

Equinor said the partners will jointly prepare and submit an application to the Norwegian authorities to develop a large-scale bottom-fixed offshore wind farm in the Sorlige Nordsjo II area in the Norwegian North Sea.

The Norwegian Ministry of Petroleum and Energy has opened two areas for offshore renewables--Utsira Nord and Sorlige Nordsjo II--and is currently working on the licensing process for offshore wind power projects in Norway. The area borders the Danish sector in the North Sea and is ideally located for supply of electricity to Europe, it said.

"A large-scale offshore wind farm at Sorlige Nordsjo II could play a key role in expanding the North Sea as an offshore energy hub and create new industrial opportunities for Norway as an energy nation," said Pal Eitrheim, Equinor's executive vice president for New Energy Solutions.

"Between Equinor, RWE, and Hydro we have the industrial capabilities, from the turbine to the consumer, to create value and supply renewable power to Europe."

Hydro REIN is a fully owned subsidiary of Norsk Hydro and offers renewable energy solutions for more sustainable industries.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

May 26, 2021 01:57 ET (05:57 GMT)

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