Statkraft sells holding in Sheringham Shoal offshore wind farm to Equitix

Norwegian state-owned utility Statkraft AS has agreed to sell its 40% stake in the 316.8-MW Sheringham Shoal offshore wind farm in the UK to fund manager Equitix for GBP 558 million (USD 749.8m/EUR 635.9m).

Other shareholders in the wind farm, which has been in operation since October 2012, are Norwegian oil and gas group Statoil (STO:STLO) with 40% and the offshore wind fund managed by Green Investment Group Management Ltd, which is part of Macquarie Group (ASX:MQG) following the privatisation of the UK Green Investment Bank, with 20%.

The sale will close shortly. Statkraft said late on Thursday this is expected to happen in the final quarter of 2017.

The deal is in line with Statkraft's strategy to exit offshore wind. The company also holds 30% in the 402-MW Dudgeon offshore wind farm that was recently brought online in the UK.

Bloomberg reported in the summer that Statkraft's stakes in the two wind farms had drawn the attention of various potential bidders and the utility hoped to complete the disposal "around New Year’s."

In October, Statkraft sold its 50% stake in the 860-MW Triton Knoll offshore wind farm project in the UK to its partner in the project, Germany's Innogy SE (ETR:IGY).

(GBP 1 = USD 1.344/EUR 1.139)

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