Norway opens world's biggest floating wind park

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They are more expensive to build.

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“This electricity must be from renewable sources if Europe wants to reach its climate goals,” he said.

Unlike offshore wind turbines that are fixed to the seabed, floating turbines are, as their name suggests, mounted on a floating structure anchored to the seabed. This makes it possible for them to be installed in deeper waters and further from the coast, where winds are more consistent and stronger.They are however more expensive to build.

The construction of Hywind Tampen, in depths between 260 and 300 metres (853 to 984 feet), cost some 7.4 billion kroner ($691 million).The project is owned by Norway’s state-owned oil groups Equinor and Petoro, Austria’s OMV, the Norwegian subsidiary of Italy’s Eni dubbed Var Energi, Germany’s Wintershall DEA and Japan’s Inpex.

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