Norway to target global offshore wind market

Norway will aim to become a leading offshore wind player under the first initiative of the government's export reform called Hele Norge Eksporterer, or All of Norway Exports.

The reform was launched in March this year and is aimed at increasing the country's exports outside of oil and gas by 50% by 2030.

The offshore wind push as part of this reform was announced on Thursday by Minister of Trade and Industry Jan Christian Vestre. The ambition is to take 10% of the global offshore wind market by 2030, which would result in a turnover of around NOK 85 billion (USD 8.7bn/EUR 8.3bn), he said.

Norway can take advantage of its technology and expertise from the maritime and oil and gas industries to build a position on the global offshore wind market, according to the announcement.

The government is setting aside NOK 50 million to NOK 90 million for export investment in offshore wind by the end of 2023, which will be coupled with contributions from businesses. Efforts will include the development of a common brand for the Norwegian offshore wind sector and building up the skills of Norwegian companies.

(NOK 1 = USD 0.102/EUR 0.098)

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