Equinor to build 200-MW floating wind farm near Canary Islands

Norwegian multinational Equinor ASA (NYSE:EQNR) has received the green light to build a 200-MW floating offshore wind farm off the coast of the Canary Islands, the regional government said on Friday.

Equinor will invest more than EUR 860 million (USD 962.2m) in the project over the course of several years and create 120-200 jobs during the 20-year lifespan of the wind farm. According to the Canary Islands government, if the administrative process gets off the ground this year, the wind farm could begin operations in 2024.

When finished, the project will increase the archipelago’s total renewable energy capacity by a third.

In the same press release, the Canary Islands government said it had been trying to secure the cooperation with the Spanish state’s energy bodies to delineate offshore wind sites in its waters. So far, several requests urging the state to create a working group have been unfruitful.

The Canary Islands have been the site of choice for many companies that wish to test their offshore wind technology. The regional government says it wants to mark the wind sites in order to speed up the permitting process and execution of new projects and avoid disturbing other marine activities.

(EUR 1.0 = USD 1.12)

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