Statkraft to sell Dudgeon stake to China Resources for GBP 555m

View of the Dudgeon wind farm. (Photo: Jan Arne Wold - Woldcam / Statoil ASA)

December 19 (Renewables Now) - Just a few days after agreeing the sale of its interest in the Sheringham Shoal offshore wind farm, Statkraft AS announced it is also selling its 30% stake in the Dudgeon wind park off the UK coast for GBP 555 million (USD 743m/EUR 630m).

The Norwegian state-owned utility said today it has signed a deal to sell its interest in Dudgeon Offshore Wind Ltd to a consortium led by state-owned enterprise China Resources (Holdings) Co Ltd.

The transaction marks Statkraft’s full exit from the offshore wind industry, a move that was stimulated by limited financial capacity. On Friday, the company said it had entered into an agreement 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. It now anticipates to concentrate on growing its participation in other renewables such as hydropower, onshore wind and solar.

Opened in November, Dudgeon is a 402-MW wind farm located off the coast of Norfolk. Its other shareholders are Norwegian oil and gas group Statoil (STO:STLO) and Abu Dhabi's renewable energy company Masdar, each with a 35% stake.

(GBP 1.0 = USD 1.340/EUR 1.135)

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