bp
Image credit: stock

With the aim to expand its business within the renewable energy market, bp has joined a consortium of Statkraft and Aker Offshore Wind aiming to play a key role in developing offshore wind energy in Norway.

The new partnership, in which the three parties: bp, Aker Offshore Wind and Statkraft will hold a 33.3% share stake, wants to participate in the bidding for developing wind power in the Sørlige Nordsjø II (SN2) licence area.

SN2’s favourable location provides power export access to local and adjacent markets. The consortium also intends to explore opportunities to provide clean power to electrify offshore oil and gas facilities.

Aker Offshore Wind, bp and Statkraft plan to work with local suppliers, building industrial competencies for Norway’s offshore wind market, and contribute toward value creation in the Nordic and European energy market.

Have you read?
bp acquires 9GW of US solar assets from 7X Energy
Oil majors attracted by economic competitiveness of renewables

The three companies will each bring their technical skills and experience in offshore energy projects, covering the full value chain from development to the delivery of offshore renewable energy to market.

bp has interests in the offshore wind sector in both the US and UK and brings international energy trading capabilities and a disciplined financial framework to the partnership.

Dev Sanyal, bp’s executive vice president of gas and low carbon energy, said: “bp aims to grow our renewables business at scale and we see great opportunities in offshore wind energy. We have decades of offshore experience in the North Sea and will also bring our extensive trading capabilities and strong relationships in Europe. Coming together with Aker and Statkraft, we believe this consortium will be ideally positioned to effectively and efficiently grow and deliver clean power for European markets, as well as strengthen the supply to Norway when needed.”

Statkraft brings its expertise in energy management and competence in wind farm development and operations.

Christian Rynning-Tønnesen, chief executive of Statkraft, adds: “Strong growth, decreasing technology costs and the involvement of industrial and financial players all indicate the rising role that offshore wind will play in Europe. Our partnership with Aker and bp will create significant value and contribute towards Europe’s energy transition.”

Aker brings to the project its learnings and know-how from five decades of designing and executing offshore projects in the North Sea as a supplier, developer and operator. Aker Horizons will work closely with the consortium on topics including strategy and financing, and the partnership will also benefit from the broad capabilities of other Aker companies, including Cognite and Aker Solutions.

Kristian Røkke, Chairman of Aker Offshore Wind and CEO of Aker Horizons, added: “Our partnership has the potential to redefine Norway’s position as an energy nation, and the consortium’s joint capabilities are building blocks to lead the energy transition. Together with Statkraft and bp we will work to develop the Norwegian offshore wind industry, reduce emissions and create new jobs.”

With bp joining the Norwegian consortium, energy cooperation between Norway and the United Kingdom is also further strengthened.