Statoil increases in UK offshore wind project Dogger BankStaff Writer | September 13, 2016
Statoil and Statkraft have signed a letter of intent that Statoil takes over as operator of the Sheringham Shoal Offshore Wind Farm from January 2017.
Green energy Dogger Bank is the largest offshore wind development
Sheringham Shoal is one of the world’s 10 largest producing offshore wind farms providing renewable energy to up to 220 000 UK homes. Located off the coast of Norfolk, it has been in operation since 2012 and has a capacity of 317 MW.
Statoil and Statkraft each hold a 40 per cent share in Sheringham Shoal, with 20 per cent held by the UK Green Investment Bank.
Through today’s agreement, Statoil is also increasing its share in the Dogger Bank projects, with the desire of bringing Statoil’s total ownership from 25 per cent up to a potential of 50 per cent through an acquisition of Statkraft’s share in Dogger Bank.
The final shareholding in Dogger Bank, and the transfer of operatorship for Sheringham Shoal, is pending partner and government approvals.
Dogger Bank is the world's largest offshore wind development, having achieved consent for an agreed target installed capacity of 4800 MW.
In total, the Dogger Bank projects have the potential to provide renewable energy to up to 5 million UK homes. ■