The Hydepoint is a joint offshore substation and hydrogen factory being developed by Moreld, Arendals Fossekompani, and Kongsberg.
Hydepoint will help address a number of issues related to offshore wind power development and upscaling.
“Hydepoint is a complete solution for receiving, converting, and transmitting the full energy potential from offshore wind farms, with reduced dependence on the onshore power grid. Placed in the ocean, close to wind farms, Hydepoint can convert all or part of the energy into hydrogen,” explains Morten Henriksen, Executive Vice President at Arendals Fossekompani.
There is a growing demand for hydrogen made from renewable energy sources. The use of offshore wind resources is also rapidly expanding, and offshore wind is already a significant source of new renewable energy around the world. Offshore wind development, including Norway’s upcoming licensing round, will necessitate a major upgrade of the power grid. It is possible to reduce the need for grid investments and effectively increase hydrogen production by converting some or all of the energy to hydrogen.
Wind power’s fluctuating output is unquestionably one of its biggest drawbacks. Increasing the share of offshore wind power in our mix could lead to a point where production is greater than the capacity of land-based transmission lines and the onshore power grid.
Hydepoint will contribute to lower costs in the global offshore wind buildup that is expected to take place over the next 20 to 30 years.
Industrial conglomerates Arendals Fossekompani, Kongsberg Gruppen, and Moreld will all hold significant stakes in Hydepoint AS.
