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Equinor joins Hitecvision subsidiary in floating wind bid

In a joint effort with Hitecvision's green energy subsidiary, Vårgrønn, the Norwegian oil company will offer a bid for rights to develop a major floating wind project in the country's Utsira Nord offshore area.

Photo: Equinor

Equinor and Vårgrønn, a renewable energy subsidiary of Norwegian private equity firm Hitecvision, are joining forces in a bid to secure rights to develop floating wind in the coveted offshore wind area Utsira Nord off Norway's southwestern coast, the two parties inform in a press release.

The duo have agreed that Equinor will hold 65-percent interest in the project, while Vårgrønn will own the remaining 35 percent. The economic framework of the undertaking remains undisclosed.

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