{"id":5952,"date":"2023-11-08T10:23:38","date_gmt":"2023-11-08T09:23:38","guid":{"rendered":"https:\/\/haavind.no\/offshore\/?p=5952"},"modified":"2023-11-09T15:36:01","modified_gmt":"2023-11-09T14:36:01","slug":"the-mpe-has-published-the-final-cfd-for-sn-ii","status":"publish","type":"post","link":"https:\/\/haavind.no\/offshore\/the-mpe-has-published-the-final-cfd-for-sn-ii\/","title":{"rendered":"The MPE has published the final CfD for SN II"},"content":{"rendered":"\t<div class=\"template-post alignwide wp-block-dekode-hero\">\n\t\t<div class=\"hero__inner\">\n\t\t\t<div class=\"hero__inner_blocks\">\n\t\t\t\t\n<h1 class=\"wp-block-post-title\">The MPE has published the final CfD for SN II<\/h1>\n\n\n<p>7 November 2023, the Norwegian Ministry of Petroleum and Energy (MPE) published the final draft Contract for Difference for S\u00f8rlige Nordsj\u00f8 II (SN II). The final draft with appendices can be found <strong><a href=\"https:\/\/eur04.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.regjeringen.no%2Fno%2Faktuelt%2Fdifferansekontrakt-for-havvind-pa-sorlige-nordsjo-ii%2Fid2994457%2F&amp;data=05%7C01%7Cf.rod%40haavind.no%7C7740beb1e3f14375f47608dbe037f448%7C9745ba82437e4625b42018a41faefcc6%7C0%7C0%7C638350303140820086%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=7Cxxd3ugJNdzsTh%2Btp%2BqfdRp1lUlFeVihMk2Zxlykyg%3D&amp;reserved=0\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/strong>.<\/p>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div><\/div>\n\t\t\t\t\t<div class=\"post-meta\">\n\t\t\t\t\t\t<span class=\"info-small\">08 November, 2023 \u00b7 3 min. reading time<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\n\n<div class=\"alignleft wp-block-haavind-byline\">\n\t\t\t\t<span class=\"author-tag\">Contact persons<\/span>\n\t\t\t\t<div class=\"authors\"><a href=\"https:\/\/haavind.no\/offshore\/personer\/baard-sandstad\/\" class=\"t2-byline__author-link\">\n\t\t\t\t<div class=\"author-inner\">\n\t\t\t\t\t<div class=\"author-inner__image\"><img loading=\"lazy\" decoding=\"async\" width=\"233\" height=\"300\" src=\"https:\/\/haavind.no\/content\/uploads\/sites\/3\/2022\/11\/Bard-Sandstad-2-233x300.jpg\" class=\"attachment-medium size-medium wp-post-image\" alt=\"\" srcset=\"https:\/\/haavind.no\/content\/uploads\/sites\/3\/2022\/11\/Bard-Sandstad-2-233x300.jpg 233w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2022\/11\/Bard-Sandstad-2-768x989.jpg 768w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2022\/11\/Bard-Sandstad-2.jpg 800w\" sizes=\"(max-width: 233px) 100vw, 233px\" \/><\/div>\n\t\t\t\t\t<div>\n\t\t\t\t\t\t<span class=\"name\">B\u00e5rd Sandstad<\/span>\n\t\t\t\t\t\t<span>Partner<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/a><a href=\"https:\/\/haavind.no\/offshore\/personer\/silje-helene-bakkevig-dagsland\/\" class=\"t2-byline__author-link\">\n\t\t\t\t<div class=\"author-inner\">\n\t\t\t\t\t<div class=\"author-inner__image\"><img loading=\"lazy\" decoding=\"async\" width=\"233\" height=\"300\" src=\"https:\/\/haavind.no\/content\/uploads\/sites\/3\/2016\/04\/Silje-Dagsland-2-233x300.jpg\" class=\"attachment-medium size-medium wp-post-image\" alt=\"\" srcset=\"https:\/\/haavind.no\/content\/uploads\/sites\/3\/2016\/04\/Silje-Dagsland-2-233x300.jpg 233w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2016\/04\/Silje-Dagsland-2-1024x1318.jpg 1024w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2016\/04\/Silje-Dagsland-2-768x989.jpg 768w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2016\/04\/Silje-Dagsland-2-1193x1536.jpg 1193w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2016\/04\/Silje-Dagsland-2.jpg 1500w\" sizes=\"(max-width: 233px) 100vw, 233px\" \/><\/div>\n\t\t\t\t\t<div>\n\t\t\t\t\t\t<span class=\"name\">Silje Helene Bakkevig Dagsland<\/span>\n\t\t\t\t\t\t<span>Partner<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/a><\/div>\n\t\t\t\t<div class=\"topics\">\n\t\t\t\t<span><\/span>\n\t\t\t\t<div><\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n<figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2048\" height=\"1059\" src=\"https:\/\/haavind.no\/content\/uploads\/sites\/3\/2023\/11\/Utsira-scaled.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/haavind.no\/content\/uploads\/sites\/3\/2023\/11\/Utsira-scaled.jpg 2048w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2023\/11\/Utsira-300x155.jpg 300w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2023\/11\/Utsira-1024x529.jpg 1024w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2023\/11\/Utsira-768x397.jpg 768w, https:\/\/haavind.no\/content\/uploads\/sites\/3\/2023\/11\/Utsira-1536x794.jpg 1536w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><\/figure>\n\n\n<p>The changes are primarily related to the changes to the SN II criteria <strong><a href=\"https:\/\/haavind.no\/offshore\/delayed-deadlines-and-changes-to-the-sn-ii-and-un-competitions\/\" target=\"_blank\" rel=\"noreferrer noopener\">announced 17 October 2023<\/a><\/strong>, regarding \u201csustainability\u201d and \u201cpositive ripple effects\u201d becoming minimum requirements, as well as supplementing clarifications and amendments related to i.a.:<\/p>\n\n\n\n<ul>\n<li><strong>Decisive influence<\/strong><br><em>Reference to the Norwegian Limited Liability Companies Act (NW: Aksjeloven) included.<\/em><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Project concept, including:<\/strong><br><em>Change of the term \u201cPrequalified solution\u201d to \u201cProject concept\u201d<\/em><br><br><em>Deadline for notification of changes or deviations requiring the Government\u2019s consent.<\/em><br><br><em>Clarification that consent is not required after detail plan according to both the Offshore Energy Act and the Energy Act has been approved.<\/em><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Final Investment Decision<\/strong><br><em>In addition to external loans being credit approved, shareholder loans and company group loans shall be approved by the board (or equivalent organ)<\/em><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Basis for extension of deadline due to lack of approval of detail plans (according to both the Offshore Energy Act and the Energy Act)<\/strong><br><em>Such approval shall be given within 3 months before the deadline for FID, as long as the application for approval is submitted within the given deadline and the Aid Recipient is not responsible for the delay<\/em><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Reference price<\/strong><br><em>Periods with negative spot price are excluded when calculating the reference price<\/em><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Limitation of liability<\/strong><br><em>Exclusion limited to loss caused by intentional, gross negligent or clearly disloyal circumstances.<\/em><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Underlying Change of Ownership before Completion<\/strong><br><em>Some simplification of language, and approval of ownership change can only be denied with reasonable cause (\u201csaklig grunn\u201d)<\/em><br><br><em>Included exemption for transfers of listed shares, provided that it does not result in a change of control of the aid recipient or an owner (as defined)<\/em><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Pledging<\/strong><br><em>Clarified that shares in the aid recipient can be pledged<\/em><\/li>\n<\/ul>\n\n\n\n<p>In sum, there are not many material changes, which also is in line with previous signals from the MPE. The most notable change from the previous draft is that consent to approval of Underlying Change of Ownership before Completion can now only be denied if the MPE has reasonable cause. In the previous version of the CfD, it was explicitly stated that such consent could not be expected before Completion (commercial operations), unless the Government found that there was particular reason for giving such consent.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":29,"featured_media":5953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"sector":[],"speciality":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The MPE has published the final CfD for SN II - Offshore Wind Insight<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/haavind.no\/offshore\/the-mpe-has-published-the-final-cfd-for-sn-ii\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The MPE has published the final CfD for SN II\" \/>\n<meta property=\"og:url\" content=\"https:\/\/haavind.no\/offshore\/the-mpe-has-published-the-final-cfd-for-sn-ii\/\" \/>\n<meta property=\"og:site_name\" content=\"Offshore Wind Insight\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-08T09:23:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-09T14:36:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/haavind.no\/content\/uploads\/sites\/3\/2023\/11\/Utsira-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1059\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Fredrik R\u00f8d\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fredrik R\u00f8d\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/haavind.no\/offshore\/the-mpe-has-published-the-final-cfd-for-sn-ii\/\",\"url\":\"https:\/\/haavind.no\/offshore\/the-mpe-has-published-the-final-cfd-for-sn-ii\/\",\"name\":\"The MPE has published the final CfD for SN II - 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