Statoil, partners open 402-MW Dudgeon offshore wind farm

Statoil (STO:STLO) and its partner owners of the 402-MW Dudgeon offshore wind farm are today opening the facility located off the coast of Norfolk, the UK.

The Norwegian oil and gas group is the operator of the wind farm and owns a 35% stake. Abu Dhabi's renewable energy company Masdar and Norwegian state-owned utility Statkraft own 35% and 30%, respectively.

Statoil highlighted a 15% reduction in the cost to build the wind farm since the investment decision was made in 2014, from GBP 1.5 billion (USD 2bn/EUR 1.7bn) to about GBP 1.25 billion.

The wind park consists of 67 Siemens turbines of 6 MW that are now supplying electricity to the UK grid. The facility can power around 410,000 UK homes, the developers estimate.

"As part of our strategy to develop from an oil and gas company to a broad energy major, Statoil will grow significantly in profitable renewable energy, with an ambition to invest around NOK 100 billion [USD 12.2bn/EUR 10.4bn] towards 2030," said Statoil's chief executive Eldar Saetre.

The Dudgeon operations centre is located in Great Yarmouth. The official opening ceremony will be held in the afternoon in Great Yarmouth's Town Hall.

(GBP 1 = USD 1.325/EUR 1.128)

(NOK 1 = USD 0.122/EUR 0.104)

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