Naturgy and Equinor reach an agreement to jointly explore offshore wind energy in Spain

Equinor is the world’s leading floating offshore wind power developer and operates the first floating farm, Hywind Scotland (30MW), soon to be joined by Hywind Tampen (88 MW), which when commissioned in Q3 2022 will be the biggest in the world.

The two companies agreed today, within the framework of the Wind Europe Congress that is being held this week in Bilbao, to develop a project that can participate in the first offshore wind auction in Spain that will take place in the Canary Islands.
The Spanish energy company will contribute its experience in the development of onshore wind power and the Norwegian company its proven capabilities in offshore floating technology.
Naturgy and Equinor have reached an agreement today to work together on the analysis and opportunities of offshore wind power in Spain. Both companies want to take advantage of their complementary capabilities to develop this technology, which has great potential in our country.

As part of this agreement, Naturgy and Equinor have agreed to develop a project that can participate in the first offshore wind auction in Spain that will take place in the Canary Islands.

The ‘Roadmap for offshore wind and energy at sea’ approved by the Spanish Government provides for the development of up to 3 GW of offshore wind power by 2030.

In this scenario, Naturgy and Equinor have joined forces to explore joint possibilities in the development of this new technology in Spain. In this alliance, the Spanish energy company will contribute its experience in the development of onshore wind power in our country and the Norwegian company will contribute with its proven capabilities in offshore floating technology.

The General Director of Renewables, New Businesses and Innovation at Naturgy, Jorge Barredo, was very satisfied with the agreement reached with the Norwegian company, and also pointed out that “the development of floating wind power opens a very relevant window of opportunity for Spain, since it allows to take advantage of locations farther from the coast, with excellent wind resources, and act as a tractor for the economy through key sectors such as naval or civil. It is not only an energy opportunity, but also an industrial one and it must be used in such a way that it allows the conciliation of all interests”.

The senior vice president of Business Development at Equinor in Renewables, Jens Økland, stated that “it is good news to see the deployment of offshore wind energy in Spain. 3GW by 2030 is an ambitious goal, and with floating wind it is feasible. Equinor has extensive experience in Spain and Naturgy is a well-known partner of Equinor. Together we want to contribute in the long term to the country’s renewable energy plans and start in Spain with the development of the first commercial floating offshore wind farm”.

Spain plays a key role in the offshore wind power supply chain in the rest of Europe and Equinor has a long history of collaboration with the Spanish industry. Key components such as the floating substructure, tower and mooring system for Equinor’s Hywind Scotland floating wind farm were manufactured in Spain.

“As an operator and developer of floating offshore wind farms, we know that the technology works, and we believe that our experience enables us to contribute to its development in Spain in a safe, sustainable and efficient way, together with our partner. We hope to continue collaborating with the Spanish industry. Collaboration with other sectors linked to the use of the sea is important to guarantee coexistence with this developing industry”, explained Sonja Chirico Indrebø, Vice President of Floating Offshore Wind at Equinor.

Naturgy maintains a very important commitment to the development of renewable energies and plans to reach 14 GW of installed power in 2025, from the current 5.2 GW. The company’s total investments increased in 2021 to 1,484 million euros. Close to 65% of this amount, 952 million (+30%), was allocated to growth and, mainly, to the development of gas and electricity networks, as well as to increasing the installed power in renewable generation in Australia, Spain and the United States. Thus, the company continues with its strategy of developing a renewable portfolio at an international level, focusing on stable geographies and projects in the initial phase of development.

Equinor is working to position itself in the renewable energy business and already has 800 MW of offshore wind power. The company is developing offshore wind farms in the UK, Northeast US and Baltic Sea, and is positioned for future floating offshore options in several geographies, including Europe and Asia, where it has projects in South Korea.