October 11, 2019 / 5:06 AM / 11 days ago

Equinor to invest nearly $550 mln in floating wind power off Norway

OSLO, Oct 11 (Reuters) - Equinor will invest close to 5 billion Norwegian crowns ($549 million) to build floating turbines that will supply power to several North Sea oil and gas platforms, the first such project of its kind, the Norwegian firm said on Friday.

The 88 megawatt (MW) capacity project, called Hywind Tampen, consisting of 11 turbines, would meet about 35% of electricity needs at the Gullfaks and Snorre fields, Equinor said.

The cost estimate was unchanged from initial projections made last year. ($1 = 9.1108 Norwegian crowns) (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

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