Equinor, a prominent oil company, has launched the world’s largest floating wind farm, Hywind Tampen, located off the west coast of Norway.
With an impressive 88 megawatts (MW) of capacity, the wind farm will generate energy to power nearby oil and gas platforms. This innovative project utilizes a new technology that secures 11 large turbines to the seafloor, marking a significant step towards tapping into renewable energy sources in deeper offshore waters.
Despite this venture into renewables, environmentalists have offered mixed reactions. While the wind farm will contribute to emissions reduction in the oil and gas sector, some climate activists argue that a complete transition away from fossil fuels is necessary.
Equinor’s engagement in renewable energy also sparks discussions around the role of oil and gas majors in the ongoing energy transition.
How Long It Will Last
Equinor partnered with other oil companies OMV and Vaar Energi for this endeavor, which commenced energy production in November and achieved full capacity recently. The energy generated by the wind farm will cover approximately 35% of the power required for five offshore oil and gas platforms in the North Sea.
This transition from conventional power sources like diesel or gas will result in a reduction of around 200,000 tonnes of CO2 emissions annually.
The Hywind Tampen project employs a floating base with 11 turbines anchored to the seafloor, a technology suited for deeper offshore waters. Norway, with ambitions to double its current power output, is targeting 30 gigawatts of offshore wind power by 2040.
This aligns with the nation’s goals under the Paris Agreement, aiming to mitigate emissions from offshore and onshore installations that contribute significantly to Norway’s overall carbon footprint.
While Equinor’s entry into the renewable energy domain is a notable step, it also highlights the complexities of balancing fossil fuel interests with the imperative to address climate change through green initiatives.
The launch of the floating wind farm underscores the evolving landscape of energy production, as industries grapple with the challenge of meeting energy demands while reducing environmental impact.
Equinor, like many other oil companies, has articulated its commitment to becoming a “net zero company” by 2050. However, it maintains that oil and gas will still play a role in the energy mix even by that time.
This approach aligns with the company’s perspective that oil and gas will remain essential components of the energy landscape.
As part of its strategy, Equinor has set an ambitious goal to increase its installed renewables capacity to 12-16 gigawatts (GW) by 2030, a substantial leap from the mere 0.6 GW it had in place last year. Notably, large-scale offshore wind projects such as Hywind Tampen are expected to drive a significant portion of this expansion.
Despite these efforts, Greenpeace campaigners express skepticism towards Equinor and other energy companies, labeling them the “dirty dozen.” Greenpeace’s analysis reveals that a mere 0.3% of the combined 2022 energy production of these 12 European companies originated from renewable sources.
Additionally, only 7.3% of their investments in the previous year were directed towards green energy initiatives.
The balance between traditional fossil fuel operations and transitioning to renewables is a central debate in the energy sector. Equinor’s dual commitment to net-zero goals and continued oil and gas operations reflects the complexities of this transformation.
As industries navigate the evolving energy landscape, they face increasing scrutiny from environmental advocates, investors, and the general public, all of whom are eager to see substantial progress toward a sustainable future.