Statkraft Exits Triton Knoll Project

Statkraft has continued executing its plan to exit offshore wind and has now sold its stake in the 860MW Triton Knoll project to innogy, thus making innogy the sole owner.

After announcing the offshore wind divestment plan, Statkraft said it will remain committed to working with innogy to develop Triton Knoll towards an investment decision before selling its stake. In September, the project received a Contract for Difference (CfD) and the developer has since selected preferred suppliers for turbines, foundations, substations and offshore cables, with the Final Investment Decision (FID) expected to be reached in mid-2018.

Image Source: innogy

Innogy said that future ownership structure will now be reviewed further and that the financing process will be finalized with contracting agreements completed with the project’s supply chain partners until the FID is in place.

Hans Bünting, Chief Operating Officer Renewables of innogy SE, said: “With full control over Triton Knoll, we will now develop the project further to final investment decision at our own discretion. In due course, we will also review all options regarding the ownership structure of Triton Knoll to maximise value for our company and our shareholders.”

This summer, Statktraft commenced the formal divestment processes for its 40% share in the Sheringham Shoal and 30% in the Dudgeon offshore wind farms, with the aim to complete the transaction early next year.

The move came after the company sold its 25% interest in the 4.8GW Dogger Bank offshore wind projects to partners Statoil and SSE in March 2017.

In December 2015, Statkraft announced it will no longer invest in offshore wind, later informing that it was evaluating its stakes in existing projects. In October 2016, the company started the preparations for the divestment of its shares in the Sheringham Shoal, Dudgeon and Dogger Bank offshore wind farms.