Swedish utility Vattenfall has formed a joint venture with investor-led group Seagust to bid in the upcoming tender for up to 4.5GW of Norwegian offshore wind licenses.

The new JV plans to bid for both the Utsira North and the Southern North Sea II (Sørlige Nordsjø II) areas the Norwegian government plans to auction off later this year. Seagust was set up in 2021 by industrial investment companies Arendals Fossekompani (AKP) and Ferd with the ambition to become an offshore wind developer in domestic and international markets.