Statoil sharpens renewable energy efforts

Statoil, through its subsidiary, signed an agreement for the sale of Statoil’s 50% stake in Sarepta Energi as to Trønder Energi Kraft AS. Another agreement was signed for the sale of wind power projects in Finnmark, comprising Arctic Wind AS and the Hamnefjell, Båtsfjordfjellet and Snefjord projects, to Finnmark Kraft AS.

The sale is part of Statoil’s strategy to focus wind energy investment in offshore projects in order to better utilise the group’s core expertise in developing renewable energy.

"Renewable energy is an important priority for us. We are now in a process where we want to sharpen our focus where we believe we can contribute most. Offshore wind is an area experiencing strong market growth – and one in which Statoil can utilise its expertise as the world's largest offshore operator. It means that we are now working to find new owners for the group's interests in wind farms on land," says Ståle Tungesvik, senior vice president of Renewable Energy in Statoil.

Eldar Sætre, executive vice president for Manufacturing, Processing and Renewable Energy, says he is pleased to see the progress in delivering the renewable energy strategy.

“These exits from the onshore portfolio are an important part of our renewable strategy towards focusing on core competence areas. Onshore wind will still be part of the energy mix in Norway, and we are pleased that new owners will be able to continue to develop the projects further,” says Sætre.

"The business cluster has the ambition to gradually build a profitable renewable energy business," says Tungesvik.


Statoil has quickly built up a significant position in the offshore wind market:

• Sheringham Shoal in England is under construction and will supply electricity for 220,000 British households. The project, which is a collaboration between Statoil and Statkraft, will feature 88 fixed offshore wind turbines and deliver 317 MW of power. Statoil is the operator for the development construction.

 

• The group is also part of the Forewind consortium, which has the rights to develop the Dogger Bank field. With a possible development of 13 GW, Dogger Bank, the field may potentially become the world's largest offshore wind development.

 

• Statoil also operates active technology development through the world's first floating wind turbine – Hywind. After testing the technology outside of Karmøy, Norway, the group is now working to commercialise Hywind. The next step will be to establish demonstration farms with 3-5 floating windmills grouped together.