Ventyr Wins Norway’s 1.5 GW Offshore Wind Auction at $0.11/kWh

The company will develop the 1.5 GW Sørlige Nordsjø II at a tariff of NOK 1.15/kWh


Norway-based wind project developer Ventyr has won the country’s first offshore wind auction to develop the 1.5 GW Sørlige Nordsjø II in the Southern Norwegian North Sea at a tariff of NOK1.15 (~$0.11)/kWh.

The first wind turbines for the project are expected to be operational by 2030. The project represents a critical step towards Norway’s ambitious goal of awarding 30 GW of offshore wind power by 2040.

The tender was floated in April 2023.

The renewable energy generation at Sørlige Nordsjø II, the first phase, was to be awarded to one applicant through pre-qualification, followed by auction.

The Ministry of Petroleum and Energy said it would propose to Parliament for authorization to enter a two-sided contract for the difference of renewable energy production at sea from Sørlige Nordsjø II, first phase. An upper ceiling will limit any state funding.

Ventyr is a partnership between the Belgium-based offshore wind developer and operator Parkwind, which is owned by JERA, a Japanese energy company, and Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer.

The consortium has a strategic partnership with NorSea, the Norwegian owner of strategic port infrastructure and provider of port services, base, and logistics solutions to customers in various industries, including offshore wind.

“We are thrilled to have secured the winning bid for the Sørlige Nordsjø II project,” said Jorne Bluekens, Project Manager at Ventyr. “This achievement underscores our commitment to driving positive change through renewable energy innovation. We look forward to working closely with our partners and stakeholders to bring this project to fruition and deliver tangible benefits to the local community.”

Other participants in the auction included:

  • A group comprising Aker Offshore Wind, BP, and Statkraft
  • A partnership of Equinor and RWE
  • A consortium consisting of Shell, Lyse, and Eviny
  • Norseman Wind

In February, the Solar Energy Corporation of India, on behalf of the National Institute of Wind Energy, invited bids to allocate sea-bed lease rights for 4 GW offshore wind power projects on a build-own-operate basis.

Last December, the Ministry of External Affairs in India notified rules for leasing offshore wind energy sites.

The offshore wind industry achieved notable growth by adding 8.8 GW of new capacity to the grid in 2022, the second-best performance ever, according to the Global Wind Energy Council’s “Global Offshore Wind Report for 2023.”