Major New Initiative for Floating Offshore Wind
Enova is launching a third round of funding for companies developing solutions that can make floating offshore wind cheaper and more efficient.
Press Release from Enova – 10 December 2025
Translated to English by ChatGPT.
In this new call for proposals, companies can apply for up to NOK 2 billion per project. The aim is to test and demonstrate new technology that can reduce costs and improve performance in floating offshore wind. The application deadline is 12 February 2026.
Minister of Energy Terje Aasland says floating offshore wind can contribute significantly to Norway’s power production and strengthen the Norwegian supply industry. He stresses that further technology development and cost reductions are essential, and that Enova’s programme is one of several tools the government is using to drive progress.
A rapidly growing market
Global investments in renewable energy are now twice as high as investments in fossil energy. Solar power accounts for about sixty percent of green energy production, with wind covering most of the remainder. Offshore wind investment is increasing rapidly worldwide, both in Europe and in Asia. Norwegian companies generated NOK 40 billion in offshore wind revenue last year, creating work for around six thousand Norwegians globally.
“ The transition is happening now, and offshore wind turbines are one of the most promising solutions. Norway has everything it needs to succeed, ” says Oskar Gärdeman, Enova’s wind expert.
Oil investments trending downward
The International Energy Agency (IEA) estimates that global oil demand will peak within four years, even without new climate measures. China believes it may reach its peak within two years. Oil and gas investments are expected to decline significantly toward the end of this decade.
Norway’s continental shelf is a high-cost region, and production will gradually decrease. Estimates from the Norwegian Offshore Directorate show that production could halve by 2050 if exploration activity remains moderate. Without new discoveries, production will fall even faster.
“ Building floating offshore turbines is more expensive than fixed-bottom solutions and onshore wind. But the wind is stronger and more consistent far offshore, ” says Gärdeman.
Rising demand for electricity
Electricity demand is set to increase, while emissions must be reduced. This requires the expansion of several renewable technologies. Along the Norwegian coast, wind stands out as a particularly strong resource.
Enova has previously awarded NOK 2 billion to Goliat Vind and NOK 1.2 billion to the Windcatching Demo project.
“To cut emissions and safeguard our welfare system, Norway must invest more in renewable energy. Enova plays a key role in reducing costs and driving new technology forward,” says Minister of Climate and Environment Andreas Bjelland Eriksen.
Ambitious programme
The call for proposals is part of the programme Competition for Support to Small-Scale Commercial Floating Offshore Wind Projects. The programme will run several competitive rounds toward 2030. This round is open for projects with one to five turbines. These smaller projects are important for testing technology and reducing cost and risk ahead of large-scale developments.
The government aims to allocate areas enabling 30,000 MW of offshore wind by 2040. To achieve this, floating offshore wind must become commercially viable. Enova’s support will accelerate the transition.
New cost estimates from Norwegian companies indicate that floating offshore wind could reach around NOK 0.80 per kWh by 2035. This is significantly lower than previously assumed.
“This suggests that floating offshore wind will continue to play a key role in the energy transition, and could eventually become competitive without support,” says Gärdeman.
Why offshore wind matters for Norway
Investing in offshore wind secures jobs and value creation in Norway’s maritime and offshore industries. It provides a new source of renewable energy and strengthens long-term energy security. It also reduces risks associated with relying solely on hydropower, which can be vulnerable in dry years.
An additional benefit is that turbines located far offshore are not visible from land. The electricity produced will benefit Norwegian society.
Who can apply?
The support scheme covers investment projects with a lifetime of 20–30 years that start within five years of approval. Projects must be located in the Norwegian Exclusive Economic Zone. A fee will be introduced for projects that are not carried out after receiving support.
Large-scale wind parks are not included in this call. Parliament has separately allocated up to NOK 35 billion for floating offshore wind in Utsira Nord.
