Statoil and Statkraft completed a deal that has increased the Norwegian giant’s share in the Dogger Bank Offshore Wind development to 37.5%.
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Image of Sheringham Shoal off the coast of Norfolk, from Statoil. |
Statoil previously held 25% stake.
The Dogger Bank offshore wind development comprises four projects developed by the Forewind consortium which were granted planning permission during 2015. The projects are in the North Sea off the east coast of England and the wind farms have a potential generating capacity of up to 4800 MW.
SSE have acquired the other 12.5% of Statkraft’s share meaning they now also have 37.5% ownership with Innogy continuing to own the other 25%.
“Dogger Bank represents a unique opportunity for the UK to develop secure, sustainable and cost-competitive energy from its world-class wind resource. By increasing our share, we strengthen Statoil’s long-term portfolio materiality and gain additional optionality. This is in line with our strategy to gradually complement Statoil’s oil and gas portfolio with profitable renewable energy and other low-carbon solutions,” says Stephen Bull, Statoil’s senior vice president for offshore wind.
Statoil and Statkraft originally signed the letter of intent for the Dogger Bank deal in September.
Read more:
Statoil takes Sheringham Shoal operatorship, ups Dogger stake
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