Norway

Norway

Statkraft wind business records H1 loss

As Sheringham Shoal nears completion, offshore wind remains a priority

The wind power division of Norwegian energy company, Statkraft, has reported a first half (H1) 2012 loss. This was primarily due to "significantly lower" electricity prices and a high level of investment in onshore wind projects, says the company.

Statkraft’s wind-related H1 net revenue was NOK127m (€17.3m), 32.1% down on H1 2011. Meanwhile, its wind division's operating loss was NOK79m (€10.8m). Nevertheless, Statkraft describes 2012 as "shaping up to be the best year so far for development of wind power". It has substantial new capacity coming online over the next 18 months.

UK offshore projects

The company's offshore wind activities are focused, for now, on the 317MW Sheringham Shoal project, off the UK’s Norfolk coast. Around half of the project’s 88 turbines generated electricity during the second quarter (Q2), contributing to total H1 wind energy production of 0.4TWh.

Sheringham Shoal will be officially unveiled as fully commissioned on 27 September. Statkraft’s 50% stake in the project appears to fulfil its 2015 target of owning 150MW of offshore wind capacity.

Looking ahead, Statkraft says it foresees taking an "industrial role" in offshore wind development. It is one of four companies awarded the rights to develop Dogger Bank, part of the UK’s Round 3 offshore programme. The zone is earmarked for at least 9GW of offshore wind capacity.

Statkraft also purchases electricity generated by other offshore wind operators. Its purchases have included electricity from Dong Energy's assets in UK waters.

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