North Energy ASA ( (DE:RN2) ) has shared an update.
Wind Catching Systems AS, partially owned by North Energy ASA, has secured a NOK 1.2 billion project grant from ENOVA for the deployment of a commercial demonstrator unit through its subsidiary, Wind Catching Demo AS. This grant will support the development of a demonstrator project off the coast of Øygarden, Norway, which involves four units based on the Windcatcher design with a total installed capacity of up to 250 MW, marking a significant advancement in offshore wind technology.
More about North Energy ASA
North Energy ASA is involved in the renewable energy sector, primarily focusing on innovative wind energy solutions through its investment in Wind Catching Systems AS. The company is geared towards advancing offshore wind technology, which is reflected in its significant stake in the development of new wind energy projects.
YTD Price Performance: -3.50%
Average Trading Volume: 4,992
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €24.92M
See more insights into RN2 stock on TipRanks’ Stock Analysis page.