Innogy buys Statkraft's 50% stake in Triton Knoll offshore wind project

German energy company Innogy SE (ETR:IGY) said Tuesday it has acquired the 50% stake of Norwegian state-owned utility Statkraft in the 860-MW Triton Knoll offshore wind farm project in the UK.

Innogy has acquired full ownership of the project as it moves towards final investment decision, expected in mid-2018. "With full control over Triton Knoll, we will now develop the project further to final investment decision at our own discretion," said Hans Buenting, chief operating officer renewables at Innogy. All options regarding the future ownership structure will be reviewed, Buenting added.

For Statkraft the sale is in line with its strategy to exit offshore wind. The parties kept the price confidential.

The wind farm will be built off the coast of Lincolnshire, eastern England at a planned cost of about GBP 2 billion (USD 2.6bn/EUR 2.2bn). In September the project secured a contract for difference (CfD) in the UK government's auction at a strike price of GBP 74.75 per MWh over 15 years.

Preferred suppliers have already been announced for the turbines, foundations, substations and offshore cables. They include, MHI Vestas Offshore Wind, which will supply 90 of its V164-9.5 MW turbines, a joint venture of Sif Netherlands BV and Smulders Projects Belgium NV, MPI Offshore, Siemens Transmission and Distribution Ltd, and a consortium of NKT and VBMS.

(GBP 1 = USD 1.320/EUR 1.117)

Choose your newsletter by Renewables Now. Join for free!