|Norway's Statoil enters the German offshore wind market|
| [29.04.2016, 01:28pm, Fri. GMT]|
|Norwegian energy provider Statoil has announced that it is entering the German offshore wind market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.ON also announce the final investment decision on the 385 megawatt project. The estimated total investment for the project will be in excess of EUR 1.2 billion.|
The Arkona wind farm will provide renewable energy for up to 400,000 households in Germany, making it one of the largest ongoing offshore wind developments in Europe.“We are pleased to announce our decision to develop this significant offshore wind project together with E.ON. This investment is in line with our strategy to gradually complement our oil and gas portfolio with profitable renewable energy and other low-carbon solutions,” says Eldar Sætre, Statoil’s president and CEO.
“We are also pleased to develop this project in Germany, where Statoil is the second-largest supplier of natural gas. We have been delivering gas from Norway through three direct pipelines for over 35 years, and Statoil’s entry into German offshore wind adds a new dimension to the Norwegian-German energy partnership,” says Sætre.
The addition of Arkona increases the total energy production capacity of the offshore wind projects in Statoil’s portfolio by around 50 per cent, and the company’s own production capacity by 65 per cent. The projects now have a combined capacity of more than 1100 MW, supporting more than 1 million European homes with renewable energy.
The Arkona wind farm will be located in the Baltic Sea, 35 kilometres northeast of the Rügen island in Germany, southwest of the Danish island of Bornholm. It will consist of 60 six-megawatt turbines, to be mounted on monopile foundations installed at water depths of 23 to 37 metres.