Solstad Offshore going greener with help of Innovation Norway grantWritten by Nick Blenkey
Skudeneshavn, Norway, headquartered Solstad Offshore ASA targets a 50% global fleet emission reduction by 2030.
Over the next three years, the company will be investing more than NOK 300 million (about $34 million) in battery hybrid conversion projects, supported by an Innovation Norway grant of NOK 87 million (almost $10 million).
Solstad plans to upgrade a total of 11 vessels over the next three years. They will undergo battery hybrid conversions and will be able to connect to shore power in ports and harbors. After completion of this program Solstad will have a total of 21 battery hybrid vessels in its fleet.
ZERO BY 2050
The planned upgrades will lead to an annual reduction of 12,000 tons CO2 emissions and will play an import party in hitting company’s target of a 50% emission reductions by 2030 and ultimately zero emissions by, at latest, 2050.
In 2021, Innovation Norway introduced a scheme to support the removal of older vessels from the market and at the same time fund upgrades of existing vessels with green technology. In October, Solstad announced plans to recycle seven vessels, and this work will be performed at specialized yards in Norway.
“This major grant from Innovation Norway allows us to step-up up our green technology investment program,” says Tor Inge Dale, chief sustainability officer at Solstad Offshore. “The list of vessels includes some of our largest construction vessels that will after conversion contribute to considerable CO2 emission reductions.”
“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 decarbonization projects in this segment,” says Sigbjørn John Huun, Special Advisor, Innovation Norway.