Cost reduction technologies​

Improved concept development technologies to reduce the total cost will be required to make floating wind competitive with other renewable energy sources.

Understanding the market and the cost drivers for the energy transition means we can identify and initiate developments of new cost-effective technologies for offshore wind at deep waters. This technology journey started in the oil and gas market 40 years ago, with its transition from bottom-fixed platforms to full subsea architecture for deep water solutions.

By utilizing competence, expertise for marinizing offshore equipment, and continuous focus to reduce the Total Cost of Ownership and LCOE*, Magnora Offshore Wind has identified, evaluated and is developing improvements within several areas, including but not limited to:

  • Subsea Substations
  • Dynamic Interarray Cables
  • Mooring Systems
  • Substructure Manufacturing and Installation
  • Operation and Maintenance

Working with partners from the offshore and subsea industry, combined with the competence from offshore wind, new roadmaps for product development are being established.

*LCOE – Levelised Cost of Energy

Stabilizing energy production

Offshore wind is intermittent by nature and will often not match the demand for energy. Turning offshore wind into a stable energy source will therefore increase value for both customer and developer significantly. Magnora Offshore Wind and partners are evaluating several opportunities for energy storage to stabilize offshore wind energy production.

One opportunity is coupling offshore wind with offshore hydrogen technologies to enable harvesting renewable energy from the spacious ocean. Hydrogen is expected to be a key building block in the energy transition to zero-emission due to its ability to store and transport renewable energy in place and time, and to decarbonize industrial processes. Power-to-X solutions add value to offshore wind farm developments and help to decarbonize energy users in the ocean space.

Project Neptun
- Hydrogen in

Magnora Offshore Wind has, through Magnora ASA, a collaboration with Prime Capital and Troms Kraft for developing green maritime fuel production facility in Tromsø, Norway. The project involves large-scale production of green hydrogen and further processing into green ammonia (NH3) and/or liquid organic hydrogen carriers (LOHC).​

The area of Tromso is an optimal location for hydrogen and ammonia production. Indeed, Tromsø is the main hub for goods and passenger transportation in Northern Norway, and additionally there is a power surplus in the Norwegian price area NO4, thus making it attractive to produce hydrogen from green electricity.

Combining energy sources

Combined energy production to increase efficiency of area allocation, related to combination of wind, hydrogen, tidal and wave.

Offshore wind shall still coexist with fishermen and marine traffic long distance from shore, while protecting wildlife in the area. Therefore, efficient use of area allocations is required.

Combining methods of energy production in one platform could also represent cost reduction regarding infrastructure and a potential to even out energy production.

Such development requires combining technologies and knowledge of renewable sources other than wind, however this is yet to be proven.