BW Offshore: 50% owned joint venture awarded NOK 1.94 billion Enova grant for floating offshore wind project

50% owned joint venture awarded NOK 1.94 billion Enova grant for floating offshore wind project

BW Offshore is pleased to announce that Fram Wind Solutions AS, a joint venture between BW Offshore, Grieg Kapital and Fram Green Technology, has received formal confirmation of a NOK 1.94 billion grant from Enova.

The grant supports a project based on two 18.5 MW floating wind turbines, the largest in the world, with a combined capacity of 37 MW, using BW Ideol’s patented Damping Pool floating foundation.

“The Enova grant is a strong endorsement of our floating wind solution. It will enable us to deploy BW Ideol’s technology on the next generation of turbines and move floating offshore wind to commercial scale. Our cooperation with the Grieg Group and Fram Marine has been key to securing this award,” says Marco Beenen, CEO of BW Offshore.

The Damping Pool floating foundations are already in operation offshore. The 30 MW EolMed floating wind farm in France has been generating electricity since May 2026, with all three 10 MW turbines installed on BW Ideol’s patented foundations.

The new project applies the floating technology to the largest turbine class the market is moving towards, aiming to lower costs and confirm commercial viability, an important step towards large-scale floating wind developments.

The grant is subject to the project reaching final investment decision (FID), securing financing and entering into key supplier agreements within 24 months of the award of the grant.

Fram Wind Solutions is owned by BW Offshore (50%), Grieg Kapital (35%) and Fram Green Technology (15%).

Enova is a state enterprise owned by the Norwegian Ministry of Climate and Environment, with the purpose to contribute to meeting Norway’s climate commitments and to promote effective climate and energy transition measures.

For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55
IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs and floating wind solutions. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets worldwide. BW Offshore has around 900 employees and is publicly listed on the Oslo stock exchange.