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INNOVATION NORWAY HELPS DECARBONISE OFFSHORE FLEET

INNOVATION NORWAY HELPS DECARBONISE OFFSHORE FLEET

Thursday, December 23, 2021 

Solstad Offshore has announced an investment of over NOK 300m in retrofitting battery hybrid systems to 11 of its vessels, backed by a grant award of NOK 87m from Innovation Norway, in order to achieve a 50% total fleet emission reduction by 2030.

The 11 vessels are planned to be upgraded over the next three years. The vessels will undergo battery hybrid conversions and will be able to connect to shore power in ports and harbours. After completion of this programme Solstad will have a total of 21 battery hybrid vessels in its fleet. The planned upgrades will lead to an annual reduction of 12.000t CO2 emissions and is an important measure to reach the company’s target of 50% emission reductions by 2030 and ultimately zero emission by latest 2050.

In 2021, Innovation Norway introduced a scrappage scheme to support removing older vessels from the market and at the same time fund upgrades of existing vessels with green technology. The scheme will contribute to increased investments in the Norwegian fleet and reduce the emissions in line with the action plan set by the Norwegian Government. Solstad has announced that seven vessels are to be recycled at specialized yards in Norway in accordance with the strictest national and international regulations.

Tor Inge Dale, Chief Sustainability Officer, Solstad Offshore, said: “This major grant from Innovation Norway allows us to step-up up our green technology investment programme. The list of vessels includes some of our largest construction vessels that will after conversion contribute to considerable CO2 emission reductions.”

Sigbjørn John Huun, Special Advisor, Innovation Norway, added: “Innovation Norway is pleased to see that this funding arrangement can assist on speeding up both the needed work to recycle older offshore vessels as well as provide considerable contributions to fund important decarbonisation projects in this segment.”

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