Statoil acquires 50% stake in €1.2bn Arkona offshore windfarm project

25 April 2016 (Last Updated April 25th, 2016 18:30)

Norwegian energy company Statoil has partnered with German power provider E.ON to acquire a 50% stake in the €1.2bn Arkona offshore wind farm project in the German Baltic Sea.

turbines

Norwegian energy company Statoil has partnered with German power provider E.ON to acquire a 50% stake in the €1.2bn Arkona offshore windfarm project in the German Baltic Sea.

Scheduled to be in operation by 2019, the 385MW Arkona project will help Statoil enter the German offshore wind market.

The offshore windfarm project is expected to supply renewable energy for up to 400,000 households across Germany.

Statoil president and CEO Eldar Sætre said: "We are pleased to announce our decision to develop this significant offshore wind project together with E.ON.

"This investment is in line with our strategy to gradually complement our oil and gas portfolio with profitable renewable energy and other low-carbon solutions."

"We are also pleased to develop this project in Germany, where Statoil is the second-largest supplier of natural gas."

E.ON will also be responsible for the operation of the windfarm and expects to complete construction within two years.

"This project offers ideal conditions to further reducing the costs of offshore wind and will take us a big step toward realising our goal of making renewables truly competitive.

Up to 400 workers will be employed during the construction phase, while up to 50 permanent jobs will be generated with the commencement of its service. Furthermore, another 100 jobs will be formed with external service providers in relation to the project.

E.ON Climate and Renewables CEO Michael Lewis said: "This project offers ideal conditions to further reducing the costs of offshore wind and will take us a big step toward realising our goal of making renewables truly competitive.

"We're pleased to be partnering with Statoil, which has outstanding expertise working in challenging offshore environments."

In addition, Siemens has secured an order from the two partners to deliver, deploy and commission 60 direct-drive offshore turbines at the project site. Each turbine will have a capacity of 6MW. Expected to begin in late-2018, Siemens will install the 60 turbines on monopile foundations in ocean depths between 23m and 37m.


Image: The 385MW Arkona windfarm project will supply renewable energy for up to 400,000 households across Germany. Photo: courtesy of Statoil.