News / Statoil completes transaction for Dogger Bank offshore wind farm
Date: 2017-03-27
Statoil completes transaction for Dogger Bank offshore wind farm
Dogger Bank development will consist of four offshore wind farms, each with a capacity of up to 1.2 GW, creating a combined capacity of 4.8 GW. (Photo: Statoil: Sheringham Shoal off the coast of Norfolk)
Statoil and Statkraft has completed their previously announced transaction, whereby Statoil increases its share in the Dogger Bank offshore wind development of an additional 12.5% stake, taking Statoil’s share to 37.5%.
The Dogger Bank offshore wind development comprises four projects developed by the Forewind consortium, which were granted planning permission during 2015. The projects are located in the North Sea off the east coast of England and the wind farms have a potential generating capacity of up to 4,800 MW.
SSE have acquired the other 12.5% of Statkraft’s share meaning they now also have 37.5% ownership with Innogy continuing to own the other 25%.
“Dogger Bank represents a unique opportunity for the UK to develop secure, sustainable and cost-competitive energy from its world-class wind resource,” said Stephen Bull, Statoil’s Senior VP for offshore wind. “By increasing our share, we strengthen Statoil’s long-term portfolio materiality, and gain additional optionality.”
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