Danske Commodities, an energy trading company owned by Equinor, has signed a Power Purchase Agreement to buy all the power produced by floating wind farm Hywind. The first floating wind farm, Hywind is located 29km off Peterhead in Scotland and has a capacity of 30MW, and supplies power to around around 20,000 households. Equinor owns 75% of the farm with Masdar holding the remainder.

“Floating wind farms hold great potential as close to 80% of the ocean’s resource potential is in deep waters. And looking ahead, floating offshore wind is estimated to constitute 10% of the market, potentially powering 12 million homes by 2030,” said Jens Økland, equinor senior vice-president, business development, New Energy Solutions.