United Kingdom

United Kingdom

Statkraft 'earns' 145GWh in Q1 from Sheringham Shoal

€65.4m invested in UK offshore wind by Norwegian energy firm

During the first three months of 2013 (Q1), Statkraft’s 50% share in Sheringham Shoal contributed 145GWh to the company’s wind power output. The offshore wind farm has been cited by the company’s management as one of two factors that shored up Statkraft’s profit during Q1.

Indeed, Statkraft’s wind power division achieved a particularly strong profit margin in Q1, of 48.8% (based on underlying EBITDA).

The 317MW Sheringham Shoal project was fully commissioned last autumn, representing Statkraft’s first foray into the offshore wind market. Its partner in the project has been fellow Norwegian energy firm, Statoil. During 2012, Statkraft’s share of Sheringham Shoal output totalled about 300GWh.

By the end of last year, Statkraft’s cumulative investment in the UK offshore wind market totalled NOK500m (€65.4m). Significant further spending is on the horizon, since Statkraft owns 30% of the 560MW Dudgeon project and 25% of the Forewind consortium, which has rights to develop the 9GW Dogger Bank zone. The company also has onshore wind assets in Europe and South America.

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