Funding earmarked for electric propulsion installations on Norwegian vessels

Norwegian state-owned financing agency Enova will be allocating NOK76.6 million (US$7.27 million) for the installation of electric propulsion systems on both new and existing vessels that will operate in Norwegian waters.

The vessels selected to benefit from the funding include a tour boat newbuilding for operator Rødne Trafikk, two feed transport vessel newbuildings for aquaculture company Eidsvaag, a dredger in the current fleet of Roslagen Shipping, and three cargo ships owned by Klaveness Combination Carriers.

Enova said the funding will help ensure that commercial use of batteries on board vessels will be adapted sooner and become more widespread. The programme will also contribute to the development and demonstration of technology that provides increased hybridisation or greater use of batteries.