Norway’s HitecVision and Italy’s Eni partner to develop renewable energy on their existing oil cooperation Vaargroenn in the Nordic region.
Vaargroenn plans to install 1 GW of electricity capacity into 2030. The initial target is the offshore wind in an upcoming tender in Norway. The investment is estimated to be at EUR200 million (USD236 million) per year or a total of EUR2 billion (USD2.36 billion).
The facility could add both fixed and floating wind turbines off Norway. In the upcoming terms, Vaargroenn will also assess the possibility of offshore wind in the Nordics.
This new partnership is part of Eni’s overall strategy supporting its greenhouse gas emissions cut target by 80% by 2050.
