Deep Wind Offshore

What Deep Wind Offshore does

Deep Wind Offshore is an international offshore wind project developer headquartered in Haugesund, Norway, founded in 2021 by Knutsen Group, Haugaland Kraft, and Sunnhordland Kraftlag. The company develops utility-scale offshore wind farms in five markets — Norway, Sweden, South Korea, Estonia, and Chile — covering both floating (deep-water) and bottom-fixed (shallow-water) technologies, with a pipeline exceeding 10 GW and approximately 4 GW under exclusive development. Active projects include the 500 MW Utsira Nord floating site (awarded December 2025), the 1.5 GW Olof Skötkonung in Sweden, the ~1 GW Tuul Energy in Estonia, the Admiral Lee and Abalone projects in South Korea (each up to 1.5 GW), and BioBio Sustentable and Golfo De Arauco in Chile.

Technically, Deep Wind Offshore's differentiator is a next-generation farm architecture using 132 kV inter-array voltage (200% above current state of the art) enabling a remote onshore substation instead of a costly floating substation, materially reducing LCOE for floating wind. The company is also a partner in the SINTEF-led Ocean Grid project developing a continental-shelf-scale offshore grid and deploys Spoor's AI computer-vision camera system for environmental bird monitoring at project sites. Strategic technology and supply chain partners include Moreld Ocean Wind (preferred floater supplier), Westcon Yards, Karmsund Havn, Unitech Energy, and Equinor (Ocean Grid consortium).

Commercially, Deep Wind Offshore is pre-revenue. Its revenue model centers on long-term electricity sales and PPAs from operational wind farms, offtake secured via government auctions and direct utility contracts, and returns from equity ownership, project sales, and ongoing royalties once assets are commissioned. The company pursues development through multi-party consortiums with strategic partners (EDF Power Solutions, KHNP, Valorem, Sunly, bp) and is backed by industrial shareholders (Knutsen Group, Haugaland Kraft, Sunnhordland Kraftlag) and Octopus Energy, targeting 10 GW of installed capacity by 2032.

Name

Deep Wind Offshore

Legal name

Deep Wind Offshore

Website

https://deepwindoffshore.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Deep Wind Offshore is a Norwegian international offshore wind project developer founded in 2021, developing utility-scale floating and bottom-fixed wind farms across Norway, Sweden, South Korea, Estonia, and Chile, with a pipeline exceeding 10 GW.

Ownership category

akta.pro rank

Product category

Offshore Wind Power Generation

NAICS

Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)

akta.pro primary industry

Offshore Wind Project Development & Leasing (EUAMACAB)

akta.pro secondary industries

Offshore Wind Substructures & Marine Engineering (Monopiles, Jackets, Floating) (EUAMACAE), Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF), Wind Grid Interconnection & Power Systems (Transformers, Reactive Power, SCADA) (EUAMACAK), Offshore Wind Power Generation (Floating) (EUACAFAC), Offshore Wind Power Generation (Fixed-Bottom) (EUACAFAB), Wind Farm Development & Permitting (Greenfield/Brownfield) (EUACAFAE)

Keywords

• Offshore wind development
• Renewable energy projects
• Floating wind farms
• Utility-scale wind power
• Wind project development

Headquarters

HQ city

Haugesund

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Offshore Wind Electricity Generation and Sale: Deep Wind Offshore develops offshore wind farms and sells the electricity generated, along with associated renewable energy certificates (RECs) and power purchase agreement (PPA) revenues, to utilities, grid operators, and large industrial consumers. Revenue is derived from the long-term sale of clean electricity produced by owned or co-owned wind farms. Projects are developed through joint ventures and co-ownership structures with strategic partners, generating returns through equity ownership, project sales, or ongoing royalties from operational assets.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Deep Wind Offshore is an international developer and owner of offshore wind projects, developing utility-scale wind farms using both floating and bottom-fixed technologies across Norway, Sweden, South Korea, Estonia, and Chile. The company matures projects from early exploration through permitting and grid connection, forms consortiums with strategic partners such as EDF Power Solutions and KHNP, and sells electricity through long-term power purchase agreements (PPAs), government auctions, and direct supply contracts with utilities, grid operators, and industrial offtakers.

Differentiator

Problem solved

Functional benefit

Products and services

• Utsira Nord Offshore Wind Farm A 500 MW floating offshore wind farm near Haugesund, Norway. Awarded lease status, developed in consortium with EDF Power Solutions, with Norway's only developer partnership including local community ownership. Expected to cover close to 150,000 Norwegian households with clean electricity.
• Olof Skötkonung Offshore Wind Farm A 1.5 GW bottom-fixed offshore wind farm in the Gulf of Gävle, Sweden. Recommended by County Administrative Board for government permit, with planned annual production of approximately 5.5 TWh to improve energy balance in southern Sweden and support industrial growth.
• Tuul Energy Offshore Wind Farm An approximately 1 GW bottom-fixed offshore wind farm outside Saaremaa Island in Estonia's Baltic Sea. Developed with partners Valorem and Sunly, planned to be one of the largest offshore wind farms in the Baltic region, contributing to Estonia's renewable energy transition.
• Admiral Lee Offshore Wind Project A bottom-fixed offshore wind project in South Korea with capacity up to 1.5 GW, initially licensed at 345 MW. Developed jointly with KHNP and bp, with plans to expand to over 1 GW installed capacity.
• Abalone Offshore Wind Project A bottom-fixed offshore wind project in South Korea with capacity up to 1.5 GW, with completed wind measurements and pending Electricity Business License. Developed jointly with KHNP and bp.
• BioBio Sustentable Offshore Wind Project A 1,500 MW floating offshore wind project on Chile's coastline, with Maritime Concession currently in progress. Developed in partnership with EDF Power Solutions and KHNP.
• Golfo De Arauco Sustentable Offshore Wind Project A 900 MW bottom-fixed offshore wind project on Chile's coastline, with Maritime Concession currently in progress. Developed in partnership with EDF Power Solutions and bp.
• Erik Segersäll Offshore Wind Project A floating offshore wind project outside Stockholm, Sweden, with an initial phase of 1.5 GW and potential total of 4.5 GW. Expected to produce approximately 6.5 TWh annually, equivalent to Stockholm's total annual electricity consumption.

Quantifiable outcome

• Utsira Nord (500 MW) will cover close to 150,000 Norwegian households with clean electricity
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and major.

• EDF power solutionscoreStrategic or Co-development Partner · 11 December 2025Deep Wind Offshore and EDF power solutions (formerly EDF Renewables) form a core consortium for offshore wind development in Norway, notably the Utsira Nord 500 MW floating wind project. The partnership combines Deep Wind Offshore's local Norwegian foundation with EDF's global renewables expertise and experience from France's first floating wind farm (Provence Grand Large). The consortium is Norway's only developer with local community ownership. EDF power solutions operates 31 GW of gross installed power capacity worldwide.
• Valorem GroupcoreStrategic or Co-development Partner · 9 April 2025Valorem Group (French independent renewable energy company, 6.3 GW project pipeline, 550 employees) entered Deep Wind Offshore's Tuul Energy project in Estonia. Valorem brings extensive experience in wind, solar, and hydropower development, financing, construction, and operation across Europe. Valorem's enlarged value proposition for offshore projects strengthens the partnership for the ~1 GW bottom-fixed Tuul Energy project.
• SunlycoreStrategic or Co-development Partner · 9 April 2025Estonian energy producer Sunly (renewable energy developer across Baltics and Poland, operational assets and projects under construction) joined the Tuul Energy partnership. Sunly's main expertise is in community relations and local stakeholder engagement. Sunly has raised €887 million from EBRD, Copenhagen Infrastructure Partners, Mirova, and others.
• Korea Hydro & Nuclear Power (KHNP)coreStrategic or Co-development Partner · 25 March 2025Deep Wind Offshore signed a partnership agreement with KHNP (South Korea's largest power producer, generating ~30% of the nation's electricity) to jointly develop the Admiral Lee and Abalone offshore wind projects. KHNP is expanding into offshore wind as part of Korea's carbon neutrality goals. The partnership leverages Deep Wind Offshore's international expertise and KHNP's strong domestic capabilities in executing major energy infrastructure projects.
• University of ConcepciónmajorStrategic or Co-development Partner · 19 March 2025Deep Wind Offshore signed a 3-year collaboration agreement (auto-renewing) with the University of Concepción to strengthen advanced oceanographic research in Chile. The university's Department of Oceanography (50+ years of experience) provides expertise, research facilities, and coastal infrastructure access. Collaboration includes joint research, student theses, and potential doctoral scholarships.
• ElleviomajorStrategic or Co-development Partner · 29 May 2024Deep Wind Offshore entered a long-term partnership with Ellevio (one of Sweden's largest energy companies and grid owner/operator) to connect offshore wind power to the grid. The collaboration focuses on Olof Skötkonung and explores new models for onshore and offshore grids, new solutions for industrial customers, and delivering fossil-free energy to large electricity consumers.
• bpmajorStrategic or Co-development PartnerDeep Wind Offshore operates projects in South Korea together with bp, leveraging bp's global energy transition capabilities and presence in the Korean market.
• SINTEF Energy ResearchmajorTechnology or IntegrationDeep Wind Offshore is a partner in the Ocean Grid project (NOK 125.5 million total investment, NOK 82.7 million governmental Green Platform grant) led by SINTEF Energy Research to develop offshore grid technology for connecting wind farms to land across the Norwegian continental shelf.
• NORCEmajorTechnology or IntegrationNORCE leads the Impact Wind research project (NOK 56 million total, NOK 28 million from Research Council of Norway) focused on enabling faster offshore wind development on the Norwegian shelf through research-based knowledge and building long-term education/research capacity for license application processes.
• Moreld Ocean WindmajorTechnology or IntegrationMoreld Ocean Wind is the preferred supplier for the floating solution (floater concept) at Deep Wind Offshore's Utsira Nord floating offshore wind development in Norway.
• Westcon Yards and Karmsund HavnmajorStrategic or Co-development PartnerDeep Wind Offshore and EDF power solutions collaborate with Westcon Yards (pre-fabrication and assembly of floaters) and Karmsund Havn (infrastructure and logistics) to explore areas for construction, assembly, and logistics for Utsira Nord development.
• bpmajorStrategic or Co-development Partnerbp logo appears in the Deep Wind Offshore project section for South Korean projects (Admiral Lee and Abalone), indicating a partnership for offshore wind development in South Korea alongside EDF and KHNP partnerships.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Mainstream Renewable Power: Global independent renewables developer (owned by Aker Horizons/MPM) focused on offshore wind and onshore renewables across Latin America, Africa, and Asia-Pacific; comparable as a multi-continent offshore wind newcomer.
• Corio Generation: Macquarie-backed global offshore wind developer with ~30 GW pipeline targeting Europe, Asia-Pacific, and the Americas; competes for emerging-market tenders where Deep Wind is active, including South Korea and Chile.
• Parkwind: Belgian pure-play offshore wind developer that developed and divested operating farms (Northwind, Nobelwind) before being acquired by JERA in 2022; closest comparable in business model (focused developer, multi-market) and scale of pipeline.
• EDF Power Solutions (EDF Renewables): EDF's international renewables arm operates 31 GW of installed capacity and runs France's first floating wind farm (Provence Grand Large); consortium partner with Deep Wind on Utsira Nord and adjacent co-developer across multiple markets.
• Skyborn Renewables (E.ON/Sweco spinoff): European independent offshore wind developer with ~30 GW development pipeline across Europe, Asia-Pacific, and North America; overlaps with Deep Wind's geographic strategy and is a benchmark for the pre-IPO developer exit pathway.

Broad incumbents

• Ørsted: Global offshore wind market leader headquartered in Denmark, with operating offshore wind farms across Europe, the US, and Asia-Pacific; competes for tenders in Norway, South Korea, and other markets where Deep Wind is active and sets industry benchmarks for project economics and scale.
• Iberdrola (Avangrid / ScottishPower): Spanish-headquartered utility with growing offshore wind exposure through Avangrid and ScottishPower Renewables (East Anglia projects); a globally competitive bidder that overlaps with Deep Wind in European and Asian markets.
• Equinor: Norwegian-headquartered integrated energy major with the world's largest floating wind demonstrator (Hywind) and a multi-GW offshore wind development pipeline; Deep Wind partners with Equinor in the Ocean Grid project and competes for the same Norwegian lease areas.
• Vattenfall: Swedish state-owned utility developing large-scale offshore wind (e.g., Kriegers Flak, Norfolk projects); directly competes with Deep Wind's Olof Skötkonung in southern Sweden and is a benchmark for Nordic offshore wind economics.
• RWE Offshore Wind: German utility operating a multi-GW offshore wind portfolio across Europe and entering the US market; competing bidder in North Sea tenders and a likely competitor for floating wind in Norway.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/deep-wind-offshore

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deep Wind Offshore