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Development partners SSE and Statoil each buy 12.5 per cent
Statkraft has offloaded its 25 per cent stake in the Dogger Bank offshore wind project to SSE and Statoil.
Both companies were already 25 per cent partners in the Forewind consortium developing the project and have each now bought an additional 12.5 per cent stake. RWE spin-off Innogy owns the remaining 25 per cent share.
The 4.8GW North Sea development will consist of four offshore wind farms – Creyke Beck A and B and Teesside A and B – each with a capacity of 1.2GW. They were granted planning permission in 2015.
“Dogger Bank represents a unique opportunity for the UK to develop secure, sustainable and cost-competitive energy from its world-class wind resource,” said Statoil senior vice president for offshore wind Stephen Bull.
“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.”
SSE director of development for wholesale Mike Seaton said: “This acquisition represents the next step in the development of the Dogger Bank offshore wind development. SSE will continue to work alongside the remaining partners in the Forewind consortium to progress these projects.”
The sale comes after Statkraft revealed in September it was considering dumping its offshore wind portfolio in the UK, with the exception of its 50 per cent stake in the 900MW Triton Knoll offshore project, which it is developing alongside Innogy.
The Norwegian state-owned renewable developer said in a statement: “The UK offshore wind sector presents a significant opportunity to develop a secure, sustainable, cost-competitive energy source and Statkraft will continue to participate as an enabler of the development and operation of projects through entering into power purchase agreements.”
Statkraft also owns a 40 per cent stake in the 317MW Sheringham Shoal offshore wind farm which it is looking to sell to its fellow shareholder Statoil, and a 30 per cent stake in the 402MW Dudgeon offshore wind project.
In January, Statoil sold a a 25 per cent interest in the Hywind floating offshore wind project being developed in Scotland to middle-eastern renewable investor Masdar Clean Energy.
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