Statoil and Statkraft have completed a transaction in which Statoil has increased its share in the Dogger Bank offshore wind development.
Statoil has now acquired an additional 12.5% – taking its share to 37.5%. SSE has acquired the other 12.5% of Statkraft’s share – meaning it now also has 37.5% ownership. Innogy continues to own the other 25%.
The Dogger Bank offshore wind development comprises four projects developed by the Forewind consortium, which was granted planning permission in 2015. With a potential generating capacity of 4.8 GW, the projects are located in the North Sea off the east coast of England.
“Dogger Bank represents a unique opportunity for the U.K. to develop secure, sustainable and cost-competitive energy from its world-class wind resource,” comments Stephen Bull, Statoil’s senior vice president of offshore wind. “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.”
Photo courtesy of Statoil: Sheringham Shoal off the coast of Norfolk