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The Norwegian state energy company Statkraft is considering selling off its UK wind portfolio, after announcing in December that it will make no new investments in offshore wind.
The company owns shares in the already operational 317MW Sheringham Shoal offshore windfarm, as well as in the not yet complete 402MW Dudgeon and 4.8 GW Dogger Bank projects.
“We’re currently re-evaluating all of our existing offshore wind assets, with the exception of Triton Knoll, where we remain committed to working with Innogy to develop the project towards an investment decision before bringing in new owners,” said executive vice president at Statkraft Steinar Bysveen.
Sheringham Shoal is jointly owned by Statkraft, Statoil and the UK’s Green Investment Bank. Statkraft will need to transfer its operatorship before it can divest its stake, and Statoil has signed a letter of intent, provisionally agreeing to take over.
Both parties have set a target date of January 2017 for the handover. Negotiations towards a formal commercial agreement involving all shareholders will begin soon.
“With Statoil primed to lead operations of the neighbouring 402MW Dudgeon project and Statkraft evaluating a divestment, it makes sense to transfer the Sheringham Shoal operatorship to Statoil,” added Bysveen.
“Statkraft has played an important role in establishing Sheringham Shoal as one of the UK’s top performing offshore windfarms, and have forged strong relationships locally. We are confident these will continue to thrive in the future under Statoil’s leadership.”
The letter of intent signed between the two companies also outlines Statkraft’s intention to sell its share in the Dogger Bank project to Statoil. Innogy and SSE also both own 25 per cent stakes in the consortium and will therefore be involved in any discussions.
Bysveen welcomed the recent decision by business and energy secretary Greg Clark to award consent for the electrical system for the Triton Knoll project, in which Statkraft owns a 50 per cent share: “Our focus now is to ensure the project enters the next Contracts for Difference auction as one of the most cost competitive offshore wind projects to date.”
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