Change in the Blaavinge partnership on offshore wind developments in Norway

Reference is made to previous announcement in June 2021 on Ørsted joining the Bonheur ASA wholly owned subsidiary Fred. Olsen Renewables AS, now Fred. Olsen Seawind ASA, and Hafslund in partnership for offshore wind developments in Norway.

Ørsted have informed us that due to a prioritisation of investments in the portfolio they will withdraw from pursuing participation in offshore wind developments in Norway, and therefore their participation in the partnership will discontinue.

Hafslund and Fred. Olsen Seawind will continue their strong partnership with a view to pursue the Utsira Nord project specifically and offshore wind in Norway generally. The Blaavinge partnership with Hafslund and Fred. Olsen Seawind is not in a position to pursue Sørlige Nordsjø II.