Fórum Oceano and Norwegian Offshore Wind have announced the signing of a memorandum of understanding for the development of the offshore wind energy supply chain.
The two organizations signed the memorandum during a "visit to Portugal organized by Norwegian Offshore Wind, the Norwegian Embassy in Portugal and Fórum Oceano, which took place last week," according to a statement issued on Tuesday, September 26.
The aim of the memorandum is "to lay the foundations for new contracts between companies from both countries", according to the entities.
Forum Oceano and Norwegian Offshore Wind, which brings together nearly 400 companies in the sector, "both focus on developing the supply chain for floating offshore wind energy", the statement explains.
The "rapid growth of the offshore wind markets in Portugal and Norway (...) will create great opportunities for the industry", according to Arvid Nesse, manager of Norwegian Offshore Wind, quoted in the press release.
"Floating offshore wind energy is an abundant renewable energy resource in Portugal, with high potential for profitability in the current decade," according to Ruben Eiras, secretary general of Fórum Oceano, quoted in the press release.
"Forging a deep partnership with Norwegian companies is the way forward to accelerate the ocean industry in Portugal, by enabling the establishment of solid commercial foundations for a resilient industrial value chain between the two oceanic countries," said António Nogueira Leite, president of Fórum Oceano, who believes that offshore wind energy "will generate a competitive industry driven by the export of technology to both Norway and Portugal".