Statoil Sells Onshore Wind Power Projects (Norway)

Statoil signed on Friday 24th June two agreements for the sale of the major part of Statoils onshore wind power activities in Norway.

Statoil, through its subsidiary, signed an agreement for the sale of all of Statoil 50% of Sarepta Energi as to Trønder Energi Kraft AS. Another agreement was signed for the sale of wind power projects in Finnmark, comprising Arctic Wind AS and the three projects Hamnefjell, Båtsfjordfjellet and Snefjord, to Finnmark Kraft AS.

The sale is part of the group’s strategy to aggregate investment in wind energy in offshore projects, in order to better utilize the company’s core expertise in developing renewable energy.

“Renewable energy is an important priority for us. We are now in a process where we want to sharpen our focus where we believe we can contribute most. Offshore wind is a market in strong growth and how Statoil can use our expertise as the world’s largest offshore operator. It means that we are now working to find new owners for the group’s interests in wind farms on land,” says Ståle Tungesvik, senior vice president of Renewable Energy in Statoil.

Statoil has quickly built up a significant position in the market for offshore wind:

Sheringham Shoal in England is under construction and will supply electricity for 220,000 British households. The project, which is a collaboration between Statoil and Statkraft will be having 88 fixed offshore wind turbines and deliver 317 MW of power. Statoil is operator for the development construction.

The group is also part of the consortium Forewind, which has the rights to develop the Dogger Bank field. With a possible development of 13 GW, the Dogger Bank, the world’s largest development of offshore wind.

Statoil also operates an active technology development through the world’s first floating wind turbine half, Hywind. After testing the technology outside of Karmøy, the company is now working to commercialize Hywind and the next step will be to establish demonstration farms with 3-5 floating windmills together.

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Source: statoil, June 27, 2011