Magnora ASA

Regulatory Filings • Jul 19, 2021

Magnora Offshore Wind, a Norwegian offshore wind developer, today announces intent to participate in the upcoming ScotWind leasing round

Magnora Offshore Wind, a Norwegian offshore wind developer, today announces intent to participate in the upcoming ScotWind leasing round

19.7.2021 07:00:01 CEST | Magnora ASA | Non-regulatory press releases

19 July 2021 - Magnora ASA (Magnora) has submitted applications to ScotWind

through its subsidiary Magnora Offshore Wind AS for two zones in Scotland.

Reference is made to the stock exchange announcement dated 29 January and 18

March 2021, regarding entering into an agreement with TechnipFMC.

Today, Magnora Offshore Wind, a partnership between Magnora and TechnipFMC, is

pleased to announce the submission of two applications for the first round of

seabed leasing through the Scottish government's ScotWind Leasing program.

The renewable energy resource in and around Scotland is among the best in the

world. Scotland, home to the upcoming ScotWind Leasing Areas, could contribute

an additional 10 GW of clean and green energy to Scotland's drive towards CO2

neutrality by 2045. Investment in ScotWind leases could be close to £10 billion,

with supply chain and community benefits that, properly managed, could be

transformational for some of Scotland's most fragile communities. Magnora

Offshore Wind has worked closely with the local supply chain to ensure that

concepts can be realised with local sustainable solutions, which will benefit

the local economies for the next decades.

Magnora is a leader within the renewables sector as an owner in offshore wind,

onshore wind, and solar PV development projects, and is a key enabler in solar

energy technologies. When combined with TechnipFMC's unique technologies,

experience delivering integrated projects and novel Deep Purple? initiative to

integrate wind and wave energy with offshore green hydrogen storage, this

partnership will enable Magnora Offshore Wind to realize significant

opportunities in the growing offshore floating wind market. In addition, Magnora

Offshore Wind intends to participate in the first offshore wind application

round in Norway.

Torstein Sanness, executive chairman of Magnora, says: "In Magnora, you find

some of the world's leading experts within wind development. Coupled with

TechnipFMC's project management expertise and extensive service and technology

portfolio, we believe we can provide a market-leading floating offshore wind

offering."

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

* Torstein Sanness, Working chairman, email: sanness at sf-nett.no

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a profitable renewable energy development company

looking for green investment opportunities. Magnora's portfolio of renewable

companies consists of Evolar AB, Helios Nordic Energy AB, Kustvind AB, Magnora

Offshore Wind AS, Vindr Group AS, and a South African SPV. The company is listed

on the main list on Oslo Stock Exchange under the ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847805/729/942/Download%20announcement%2

0as%20PDF.pdf