28 Feb '18, 12pm

Statkraft offshore exit to fund ambitions in other #renewables

Norwegian utility Statkraft said the proceeds of its exit from the offshore wind sector will leave it better placed to invest in other renewables, as it unveiled improved profits for 2017. Statkraft, which published its financial results for 2017 on Wednesday, is pushing ahead with several transactions aimed at “significantly” improving its investment capacity. The company said it is about to complete the exit from offshore wind through the divestment of its interests in the 317MW Sheringham Shoal (40%), the 402MW Dudgeon (30%), Dogger Bank (25%), a 1GW-plus development zone, and the 860MW Triton Knoll development (50%) – all wind farms in the North Sea off the UK. “The offshore wind activities have been profitable, but further development would have required a larger financial capacity than Statkraft currently has. The exit will allow for stronger focus on other renewable...

Full article: http://www.rechargenews.com/wind/1442907/statkraft-offsho...

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