Equinor and Naturgy partner up and enter a development agreement prior to Spain’s first upcoming offshore wind auction off the coast of the Canary Islands.

The Spanish government aims to transform its energy mix and plans to develop up to 3 GW offshore wind by 2030. The first Spanish offshore wind auction is expected to be in the Canary region in 2023 and here Equinor and Naturgy are jointly assessing the opportunity to develop and construct a floating offshore wind project.

The cooperation is in line with the two companies’ joint ambition of utilizing their complementary capabilities to develop renewables in Spain, starting with commercial floating wind projects. With more than 90% of the Spanish offshore wind areas being deep waters, Spain has an exciting opportunity to spearhead the next wave of floating offshore wind in Europe.

The Spanish energy company will contribute with its experience from onshore wind in Spain and Equinor with its proven capabilities in floating offshore wind technology and development.

“We are very pleased with the agreement reached with the Norwegian energy company Equinor, because it allows us to promote the commitment to renewables, contributing with our experience in the development, construction and operation of onshore wind energy, as well as extensive knowledge of the Spanish market," says Jorge Barredo, managing director of Renewables, New Businesses and Innovation in Naturgy.

“It is great to see the deployment of offshore wind in Spain. 3GW by 2030 is an ambitious target, with floating offshore wind it is doable. Equinor has a long history in Spain and Naturgy is a well-known partner for Equinor. Together we now want to contribute long term to the country’ renewable energy plans and start off by developing the first commercial floating offshore wind farm in Spain,” says Equinor’s senior vice president for business development in Renewables, Jens Økland.

Spain plays a key role in the supply chain for offshore wind in the rest of Europe and Equinor has a long history of working together with the Spanish offshore supply industry. Key components like floating substructure, the tower, and the mooring at Equinor’s Hywind Scotland floating wind farm were produced in Spain.

“As operator and developer of floating offshore wind farms we know the technology works, and we believe our floating experience makes us uniquely qualified to contribute to the development of floating offshore wind in Spain in a safe, sustainable and efficient way together with our partner. We look forward to collaborating further with the Spanish industry. Collaboration with ocean users is important to ensure co-existence with this developing industry.,” says Sonja Chirico Indrebø, vice president Floating Offshore Wind.

“The development of floating wind opens a window of opportunity for Spain, allowing it to take advantage of locations away from the coast, with excellent wind resources, acting as a tractor of the economy through key sectors such as naval or civil. It is an energy and industrial opportunity, so Spain would seize this through the reconciliation of all interests linked to maritime activities," says Barredo.

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.

About Naturgy

Naturgy is a multinational energy group that holds a leading position in the gas sector and is at the forefront of the electricity industry, representing a supply guarantee.