Three project areas of 500 MW each. One project receives up to NOK 35 billion in investment support and exclusive grid connection rights. The others get nothing.
That is the structure of Utsira Nord — Norway's first commercial tender for floating offshore wind, and the most consequential floating wind competition underway in Europe.
You Have to Win Twice
The competition runs in two stages. Stage 1, with an application deadline of 15 September 2025, allocates seabed rights through qualitative evaluation across five weighted criteria. The three successful developers then mature their projects until Stage 2 in 2028, where they compete in a first-price sealed-bid aid auction. The lowest subsidy bid wins the support package.
Stage 1 and Stage 2 demand completely different capabilities. Stage 1 rewards credibility, execution evidence, and strategic positioning. Stage 2 is a blind auction where conservative financial modelling and disciplined bid strategy determine the outcome. Projects that are designed purely to win Stage 1 often face structural disadvantages when they reach Stage 2.
The Qualification Filter
Before any scoring begins, applicants must demonstrate they meet a set of mandatory qualification requirements — including at least one completed offshore wind project of 200 MW or more with at least 20% ownership in the last ten years, documented financial strength, and a realistic project plan with milestones. Several criteria that were part of the qualitative scoring in the 2023 process have been moved into the qualification phase for 2025.
The intent is clear: to remove speculative bidders before the evaluation table. Developers who cannot meet the documentation requirements on paper will not reach the scoring stage, regardless of project concept.
The Financing Gap
State support under Utsira Nord is only paid out after commissioning — which is targeted for 2034. That means developers must finance a multi-year CAPEX gap from their own balance sheet or through project financing, before a single NOK of public support arrives. In a market where interest rates directly shape lender return requirements, the structure and timing of that bridge financing is a competitive variable, not a detail.
The full Utsira Nord 2025 Strategic Brief covers the evaluation criteria and their weights, Stage 2 auction dynamics, the evolving regulatory landscape, and what separates credible bids from speculative ones. Get the brief →