Sway has developed promising solutions for floating windmills in deep waters, where the concept is to develop floating 5 MW windmills which will be able to operate even at ocean depths as great as 300 metres.

The first full-scale windmill is expected to be built and installed during the period 2010 to 2012.

In addition to the interest in Sway, Statoil also acquired a 14 per cent holding in ChapDrive in 2007.

This technology company has developed a patented system for hydraulic power transmission for windmills and tide mills. ChapDrive originated at the Norwegian University of Science and technology (NTNU).