Statkraft Starts Preparing Offshore Wind Exit

Norway's Statkraft has started preparations for the divestment of its offshore wind assets which include the company's shares in the operational Sheringham Shoal offshore wind farm, as well as the Dudgeon and the Dogger Bank projects in the UK.

A divestment of all shares in Sheringham Shoal requires Statkraft to transfer its operatorship.

Statkraft and Statoil already signed a letter of intent for the operator role to be transferred to Statoil.

Both parties have agreed a target date of January 2017 for the handover to take place and have now started a process to advance a formal commercial agreement with all project shareholders.

The wind farm is owned by Statkraft, Statoil and UK Green Investment Bank through the joint-venture company, Scira Offshore Energy Limited. Statoil and Statkraft each hold a 40 per cent share in Sheringham Shoal, with 20 per cent held by the UK Green Investment Bank.

The agreement of intent between Statkraft and Statoil also included an understanding that Statkraft intends to sell its share in the Dogger Bank project to Statoil. This will be taken forward in discussion with innogy and SSE who each hold a 25% share in the Dogger Bank Consortium.

Dogger Bank is the world’s largest offshore wind development, having achieved consent for an agreed target installed capacity of 4,800 MW.

Statkraft will also sell its 30% share in the 402MW Dudgeon offshore wind farm which it currently co-owns with Statoil and Masdar through the joint venture company, Dudgeon Offshore Wind Limited.

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