Equinor, a Norwegian energy company, has signed an agreement with Naturgy, a Spanish energy company, to compete in Spain’s upcoming offshore wind auction. The country’s first offshore wind auction is slated to take place in 2023 off the coast of the Canary Islands. Its mission is to support the Spanish government in attaining its target of installing up to 3 GW of offshore wind capacity by 2030.
Under the agreement, Equinor and Naturgy will jointly investigate prospects to develop and build a floating offshore wind project. The companies plan to develop renewable assets in Spain, starting with commercial floating wind projects, by combining their complementary expertise. Naturgy will provide its onshore wind development experience in Spain, and Equinor will contribute its expertise in floating offshore wind technology and development.
In March 2022, Equinor partnered with BP to transform the South Brooklyn Marine Terminal complex in New York into a regional hub for offshore wind. The companies plan to develop the facility into an offshore wind port to accommodate their 3.3 GW of East Coast offshore wind projects. Sustainable South Brooklyn Marine Terminal, the terminal operator, and the New York City Economic Development Corporation co-signed the agreement.
REGlobal’s Views: With the increasing concerns surrounding energy security across Europe, the race is on to reduce reliance on imported gas and build large renewable energy capacity. Spain’s upcoming offshore wind auction is a step towards developing its vast potential for offshore wind and increase private sector interest in this space.
