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.
900\
employees and is publicly listed on the Oslo stock exchange.\