Statoil and Statkraft Acquire Dudgeon Offshore Wind Farm

Press Release
Wednesday, October 17, 2012

Statoil and Statkraft have acquired the Dudgeon Offshore Wind Farm project through the acquisition of all shares in Dudgeon Offshore Wind Limited (DOW), a subsidiary of the UK energy company Warwick Energy Limited.


Following a successful partnership in developing the Sheringham Shoal Offshore Wind Farm off the coast of North Norfolk, Statoil and Statkraft will now work together to develop the Dudgeon Offshore Wind Farm. The project could deliver many hundreds of jobs during the construction phase and, once in operation, will provide renewable energy to the UK market.


Dudgeon has recently received an offshore consent that allows for up to 560 MW of installed generation capacity. The North Sea project site is located 32 km offshore, north of the town of Cromer in North Norfolk, and is 20 km north east of the Sheringham Shoal Offshore Wind Farm.


Statoil and Statkraft will optimize the project, secure the final consents and engage with suppliers and local stakeholders with the aim of bringing the project to Final Investment Decision (FID). The project will be developed by a joint project team, with Statoil leading the project towards FID. Statoil will hold a 70% share and Statkraft a 30% share in DOW.



"The acquisition is in line with Statoil's strategy to have a stepwise growth and to seek new business opportunities in offshore wind as part of the development of our renewable energy portfolio. Both Statoil and Statkraft believe this project could further strengthen their positions in the North Norfolk region, benefiting from the positive and constructive dialogue already established with UK authorities, local communities and suppliers", says Statoil Senior Vice President, Renewable Energy, Siri E. Kindem, adding:



"Warwick Energy has successfully progressed the technical and commercial basis for an offshore wind farm at Dudgeon and brought the opportunity close to a fully consented project. Statoil and Statkraft will now take this work forward."


"The acquisition is an important step in Statkraft's plan to build an industrial position in offshore wind power. We will play an active role in the development, and combining Statkraft's experience as Europe's largest renewable energy producer with Statoil's experience and technology from offshore installations will enable us to drive down costs. When completed the project will increase renewable energy generation, contribute to UK energy security and create local jobs. Final investment will be dependent on an appropriate regulatory framework and continued commitment from the UK Government to increase the share of renewables in the energy mix", says Statkraft Senior Vice President, Offshore Wind Power, Olav Hetland.


 
Energy is central to our economic recovery. I am delighted that these major global industry players have shown the confidence to invest in the UK's world-leading offshore wind market. This inward investment by Statoil and Statkraft furthers our energy relationship with Norway, will create hundreds of jobs, and enhance UK energy security, says John Hayes, UK Minister of State for Energy.



The license for the Dudgeon site was awarded by the UK Government during the Round 2 allocation in 2003. It was chosen because it lies within a government approved area for development, with high wind speeds, favorable water depths, and subsequent surveys have shown that it has relatively low levels of fishing and shipping activity.
 


Statoil and Statkraft, together with RWE and SSE, are also partners in the Forewind consortium. The aim of the consortium is to achieve consent for the Dogger Bank project 120 km off the UK east coast, potentially the world's largest offshore wind development.

 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Bahrain US$35-M Land Reclamation Contract for GLDD

Provider of dredging services in the United States and a major provider of environmental & remediation services, Great Lakes Dredge & Dock Corporation (GLDD) says

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.

Environmental

USCG to Assist Jamaica with MRO

Jamaica’s readiness for Mass Rescue Operations (MRO) in its maritime space will be boosted July 22-24, 2014 with the assistance of a subject matter expert from the U.

Thai Resort Owners Sue State Owned Company for Oil Spill

Business owners on Koh Samet island are suing a state-owned petroleum enterprise for the oil spill that polluted the resort island's beaches last year. More than 50,

Hyde Marine Makes BWTS Installation Agreements

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, says it has established two partnership agreements for installation of the chemical-free

Energy

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

Trading Dutch Well Placed to Pursue Russia Sanctions

The seafaring Netherlands prides itself on being a trading nation, reluctant to let politics get in the way of a good deal. But since the downing, allegedly

Oil Companies Bidding for Blocks in Colombia

Oil companies were bidding on Wednesday for 95 oil areas Colombia is offering for exploration and production in an effort to raise output from around 1 million

News

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

SHIPPINGInsight 2014 Agenda Announced

Annual Conference, Exhibition and Networking Event Brings Together Shipowners and Technology Companies to Address Practical Solutions for Efficient Operations The

Kito Americas Acquires Peerless Industrial

Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L.

Mergers & Acquisitions

Kito Americas Acquires Peerless Industrial

Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L.

Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered

Sembawang Shipyard to Convert 2 FPSOs for Kaombo Project, Angola

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA,

Wind Power

Harnessing the Wind for Auxiliary Propulsion

Finnish marine engineering company Norsepower Oy Ltd. announced that it will bring to the commercial maritime market an auxiliary wind propulsion solution aimed

NJ Congressmen Supports Offshore Wind Proposal

Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,

Imtech Equips HelWin bèta with HVAC System

On June 14, the HelWin bèta platform left on a barge from the Heerema Fabrication Group's (HFG) yard in Zwijndrecht for Schiedam to complete outstanding work. Last week,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1910 sec (5 req/sec)