CapeOmega and Ocean-Power AS Announce Strategic Partnership
August 10th, 2023
CAPEOMEGA AND OCEAN-POWER as have TODAY ANNOUNCED a strategic partnership to provide offshore electricity
Ocean-Power AS has the ambition to become a climate friendly offshore electricity provider, by building, owning and operating offshore power hubs. The company shall use existing technology and offshore competence, applying high efficiency power generation by use of gas turbines and carbon capture from flue gas – resulting in power with low CO2 emissions.
This partnership will see CapeOmega acquire 20% of Ocean-Power AS and dedicate personnel, competence, and resources towards Ocean-Power’s further project and company development.
Climate friendly offshore electricity, or “Blue power”, from purpose built floating power hubs, is planned to be operational before 2030.
Evy Glørstad, CEO CapeOmega AS said: “CapeOmega is pleased to take a step forward with Ocean-Power AS, as their ambitions match well with our ambitions to provide the infrastructure needed in the energy transition. We see clear transferability of the concept offshore Norway, as well as globally.”
Erling Ronglan, CEO Ocean-Power AS, said: “We are excited to join forces with CapeOmega, a company that shares our passion for sustainable energy solutions. With CapeOmega’s investment, their competence and track record, Ocean-Power will have the necessary resources to advance offshore electricity projects and contribute significantly to the reduction of carbon emissions from the energy sector.
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About Ocean-Power AS
Ocean-Power AS has an ambition to become a climate friendly electricity provider offshore. We aim to take on build, own and operate responsibilities, which means the customers can get access to climate friendly power by a plug and play philosophy. Ocean-Power AS is introducing an offshore power hub, with high efficiency power generation by use of gas turbines combined with carbon capture, resulting in low CO2 emissions.
CapeOmega is the largest private gas infrastructure owner on the Norwegian Continental Shelf, with significant ownership in the pipeline networks and terminals that provide over a third of the natural gas to Europe and the UK, in addition to co-ownership of 10 newbuild LNG carriers operating globally. CapeOmega is actively developing CCS projects leveraging our oil and gas expertise and infrastructure position to invest in terminal, transport, and storage facilities in Europe. The Company is backed by Partners Group’s Private Infrastructure business which has USD 21 billion in assets under management with over 130 investments in 18 countries globally.