According to Statoil, Sway has developed promising solutions for floating wind turbines in deep water and will begin engineering of a sea wind turbine pilot as early as autumn 2007. The first full-scale wind turbine is expected to be completed and installed between 2010 and 2012.
Statoil said that, through issuing shares, Sway has brought Statoil, Scatec, Lyse and Rosenberg on board as new, long-term owners. The equity dilution is worth NOK150 million, and Statoil has promised NOK75 million on the proviso that Sway is able to meet agreed target milestones.
Statoil said that its participation in Sway and ChapDrive, which has its origins in the Norwegian University of Science and Technology in Trondheim, are the company’s first direct investments relating to the further development of wind power technology.
Both technology companies want to develop good technical and commercial solutions contributing to significantly increased efficiency, reducing the costs of wind-produced power.
By participating actively in the development of future-oriented wind power technology in several application areas, Statoil can strengthen its position as a future producer of wind turbine energy at sea, said Per Oyvind Hjerpaasen, who heads renewable energy in Statoil’s new energy unit.
According to Mr Hjerpaasen, the potential for production and allocation of profitable wind turbine energy is huge, both on the Norwegian continental shelf and internationally.
