Statkraft sells 50 per cent stake in 860 MW wind project to Innogy

Germany’s Innogy has acquired half of Norwegian state-owned utility Statkraft‘s stake in theà‚ 860MW Triton Knoll offshore wind energy project off the coast of Lincoln, UK.

Although the deal amount went undisclosed, Innogy became the sole owner of the project which is estimated to cost about à‚£2bn.
Statkraft
Innogy Renewables COO Hans Bàƒ¼nting said: “With full control over Triton Knoll, we will now develop the project further to final investment decision at our own discretion. In due course, we will also review all options regarding the ownership structure of Triton Knoll to maximize value for our company and our shareholders.”

The sale is a part of Statkraft’s effort to exit and make no new investments in offshore wind business as announced in December 2015.

Europe’s largest renewable energy developer aims to focus on developing hydropower, onshore wind, solar, district heating and other new renewable energy technologies.

Statkraft wind power senior vice-president Olav Hetland said: “We believe the future of onshore wind in the UK to be very positive, and fully expect the UK government to grasp the opportunity for further onshore wind development through future CfD auctions.”

The Triton Knoll offshore wind project had recently secured Contract for Difference (CfD) by the UK Department for Business, Energy & Industrial Strategy (BEIS).

Innogy is planning to commence offshore construction for Triton Knoll project by 2020 and start operations in 2021.

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