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A Crucial Step Towards Financial Close for the Norse Airborne Wind Energy Project (NAWEP)

Farsund, Norway – 14.09.2025 – Kitemill has signed a Power Purchase Agreement (PPA) with Dalane Energi, securing full offtake of electricity from the Norse Airborne Wind Energy Project (NAWEP) at Lista. Under the agreement, Dalane Energi will purchase all electricity generated by the project at Nord Pool NO2 market pricing, establishing a commercial framework critical for the project’s bankability.

This agreement builds on recent progress, including the granting of a grid connection permit by Glitre Nett, allowing NAWEP’s generated power to be integrated into the regional distribution network.

The project’s regulatory process also continues to advance:

• The Norwegian Water Resources and Energy Directorate (NVE) is currently reviewing Kitemill’s concession application
• The Farsund municipality has unanimously supported a requested exemption from the area zoning plan

These developments together lay the groundwork for a strong path to Financial Close in Q4 2025.

“This agreement with Dalane Energi marks a defining moment for NAWEP,” said Asgeir Løno, CFO at Kitemill. “Securing a full offtake PPA substantiates our market-facing strategy and advances our readiness for Financial Close. Combined with Glitre Nett’s grid permit and robust municipal and regulatory backing, we are on track to deliver this pioneering airborne wind energy demonstration that will showcase the disruptiveness of our technology .”

About NAWEP

Located at Lista Airport in Farsund, NAWEP is a first-of-a-kind project that will demonstrate a 1.2 MW array of airborne wind energy systems. Operations are planned from 2027 to 2029, supported by a financing structure that includes 45% funding from the European Innovation Fund, and will be combined with other funding from national sources.

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For further details or collaboration opportunities, contact us or follow Kitemill’s continued

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