A new report estimates that the Norwegian offshore wind industry can reach an annual turnover of up to EUR 10 billion by 2050.

The calculations were presented in a new report prepared by Thema Consulting, Multiconsult and RCG Nordic on behalf of the Ministry of Petroleum and Energy, Export Credit and NORWEP.

The report presents three scenarios for further development.

In the lowest scenario, the Norwegian offshore wind industry will reach an annual turnover of EUR 3 billion by 2050.

In what is called the basic scenario, annual turnover is estimated at EUR 7 billion.

Top scenario

The top scenario is an annual turnover of EUR 10 billion.

At today’s exchange rate, that would correspond to an annual turnover of NOK 110 billion.

“The report shows that Norwegian supplier companies with experience and expertise from the oil and gas industry and the maritime industry are well-positioned to succeed in the ever-growing global offshore wind market,” Minister of Petroleum and Energy Tina Bru (H) noted.

© NTB Scanpix / #Norway Today