BW Offshore has received new financing from the Norwegian government agency Enova for its 37-megawatt project. This project involves the installation of two 18.5-megawatt turbines on Damping Pool floating foundations specifically designed by BW Ideol.
Project Details and Ownership Structure
Fram Wind Solutions, 50% owned by BW Offshore, 35% by Grieg Kapital, and 15% by Fram Green Technology, is responsible for this project. The financing granted by Enova is conditional on achieving a final investment decision, securing financing, and signing agreements with key suppliers within the next 24 months. The developers aim to install the turbines within the next five years.
Impact of Financing on Floating Wind Technology
BW Offshore's CEO, Marco Binen, stated: "Enova's funding is a strong endorsement of our floating wind solution. This support allows us to implement BW Ideol's technology in the next generation of turbines and bring floating wind to commercial scale." This project tests whether the Damping Pool foundation design can support stronger turbines while reducing the costs of construction, installation, and operation of floating wind.
BW Ideol's technology is currently being utilized in the EolMed floating wind farm with a capacity of 30 megawatts off the Mediterranean coast of France. This development includes three 10-megawatt turbines that began generating electricity in April 2026 and reached full capacity in May.
BW Offshore owns 68% of BW Ideol, which has also implemented its floating technology in other pilot projects in France and Japan. According to previous reports, Enova has allocated a total of 3.94 billion Norwegian kroner (430 million dollars) to two floating wind projects at METCentre.
Another recipient, Fortius Offshore Wind, supported by Deep Wind Offshore, has received 2 billion Norwegian kroner for the installation of two additional 18.5-megawatt turbines. Overall, these projects will add 74 megawatts of new floating wind capacity, expected to generate around 300 gigawatt-hours of electricity annually, equivalent to the electricity consumption of about 15,000 households.
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