Equinor (NYSE: EQNR), RWE Renewables and Hydro REIN have signed a collaboration agreement for offshore wind in Norway, Equinor announced.

The partners will jointly prepare and present an application to the Norwegian authorities to develop a large-scale offshore wind farm in the Sørlige Nordsjø II region of the Norwegian North Sea, according to Equinor. The company noted that the partnership between the companies represents a strong combination of experience and expertise in offshore wind development, knowledge of the energy market and execution of large-scale industrial projects.

Equinor states that the Sørlige Nordsjø II area has one of the best wind resources in the world with water depths ranging from 173 feet to 229 feet. The area would have the potential to provide a significant amount of renewable energy to countries wishing to transform their energy mix.

“The North Sea has one of the best wind resources in the world,†Equinor Executive Vice President for New Energy Solutions Pål Eitrheim said in a company statement.

“A large-scale offshore wind farm at Sørlige Nordsjø II could play a key role in the expansion of the North Sea as an offshore energy center and create new industrial opportunities for Norway as an energy nation,” added Eitrheim.

“Between Equinor, RWE and Hydro, we have the industrial capabilities, from the turbine to the consumer, to create value and deliver renewable energy to Europe,†continued the Equinor representative.

Anja-Isabel Dotzenrath, CEO of RWE Renewables, said: “Offshore wind is essential to meet the growing demand for renewable energy, support local industries and create new jobs that stand the test of timeâ€.

“We will bring our 20 years of experience and expertise in the offshore industry with our partners Equinor and Hydro to help realize Norway’s offshore wind ambitions,†Dotzenrath added.

Arvid Moss, Executive Vice President of Hydro Energy, said: “Offshore wind will be an important part of the future energy mix to decarbonize Europe and achieve the 2050 targetsâ€.

“For Hydro, this cooperation is part of our strategy to diversify and explore growth opportunities in new energies. Through Hydro REIN, we bring our industrial capabilities and knowledge of energy markets to the partnership, and we are happy to cooperate with RWE and Equinor, â€added Moss.

“Together we are forming a strong partnership to develop Sørlige Nordsjø II,†continued Moss.

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