Statoil purchases 12.5% of Dogger Bank offshore wind project

27/03/2017 11:09 Biofuels

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The Norway based company Statoil, recently announced about the intention to acquire 12.5% in the Dogger Bank offshore wind farm from Statkraft. The acquisition will increase Statoil participation in the 4.8GW offshore wind up to 37.5%.

The Dogger Bank, sited in the North See off the east coast of England, comprises four projects developed by Forewind conglomerate.

 

According to Statoil’s vice president Stephen Bull, this transaction will be an incomparable opportunity for the United Kingdom to develop cost-competitive and sustainable energy from its wind resource.

 

Statoil is not alone in its desire to review its option for further wind farms development. Other partners is in the acquisition are the British energy company SSE which has a stake of 37.5 % in the project and Innogy with 25%. SSE, together with the other associates in the Forewind consortium, will contribute to the projects’ future progress.

 

On the other hand, Statkraft motivates that the stake sale is part of its plan to examine new possibilities to exit the ownership of offshore wind power assets. At present, it owns 40% stake in Sheringham Shoal offshore wind farm, 30% in Dudgeon offshore wind farm and 50% stake in the Triton Knoll Offshore Wind project.

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