Local industrial investment companies Arendals Fossekompani (AFK) and Ferd, have joined forces to establish a 50:50 offshore wind joint venture called Seagust, which plans to bid in Norway’s upcoming offshore wind licensing round.

Seagust has the mandate to become an offshore wind developer both domestically and internationally, with Simen Elvestad as chief executive. Elvestad comes from a position as operations manager at Statkraft’s 1GW Fosen onshore wind complex.