The EFTA Surveillance Authority (ESA) gave its stamp of approval to a Norwegian investment scheme for floating offshore wind projects.
The aid in question is granted by Enova and has a total budget of 4 billion NOK (340 million EUR). It will be distributed through a competitive bidding process, with all funds set to be allocated by 31 December 2025.
The scheme is approved in line with the European Commission’s Temporary Crisis Framework for state aid measures, which aims at supporting the economy in the wake of Russia’s invasion of Ukraine.
The objective is to fast-track the adoption of floating offshore wind by financially backing numerous smaller-scale commercial ventures. These projects enable power generation in maritime regions too deep for traditional fixed-foundation turbines.
The ESA’s role is to ensure that countries of the European Economic Area (EEA) play by a common rulebook. As such, it monitors compliance with European Economic Area rules in Iceland, Liechtenstein and Norway, enabling them to participate in the European Internal Market.