Statoil Digs Deeper Into U.K. Offshore Wind Projects

Posted by Betsy Lillian on September 09, 2016 No Comments
Categories : Projects & Contracts

Statoil and Statkraft have signed a letter of intent for Statoil to take over as operator of the U.K.’s Sheringham Shoal Offshore Wind Farm starting next January. Through the deal, Statoil will also increase its share in the Dogger Bank projects.

Located off the coast of Norfolk, Sheringham Shoal has been in operation since 2012 and has a capacity of 317 MW.

Statoil and Statkraft each hold a 40% share in Sheringham Shoal. The U.K. Green Investment Bank holds 20%.

Also through the agreement, Statoil intends to bring its total ownership of the Dogger Bank offshore projects from 25% up to a potential of 50%.

The final shareholding in Dogger Bank, as well as the transfer of operatorship for Sheringham Shoal, is pending partner and government approvals.

Dogger Bank has achieved consent for an agreed target installed capacity of 4.8 GW. In total, the Dogger Bank projects have the potential to provide renewable energy to up to 5 million U.K. homes.

Today’s announcement also coincides with the opening of Statoil’s onshore base for the Dudgeon offshore wind farm. In total, Sheringham Shoal and Dudgeon are creating 85 jobs in the Norfolk area, says Statoil.

“As operator of both the Sheringham Shoal and Dudgeon offshore wind farms, located in the same area, we can further improve efficiency and increase competitiveness across the projects,” said Irene Rummelhoff, Statoil’s executive vice president for new energy solutions.

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