Statoil sheds bulk of onshore wind and shifts focus out to sea

Statoil will in future focus on offshore projects like Sheringham Shoal in the UK

Statoil will in future focus on offshore projects like Sheringham Shoal in the UK

Norwegian oil and gas group Statoil is to dispose of the bulk of its onshore wind portfolio and says the focus of its renewables strategy will shift offshore.

Statoil will sell its 50% stake in Sarepta Energi, which owns five wind projects under development in mid-Norway, to local electricity generator Trønder Energi Kraft (TEK).

The company will also sell four wind projects totalling 480MW in Finnmark, in the extreme northeastern corner of Norway, to Finnmark Kraft.

“We are now in a process where we want to sharpen our focus where we believe we can contribute most,” says Ståle Tungesvik, senior vice president of renewables at Statoil.

“Offshore wind is an area experiencing strong market growth, and one in which Statoil Log in to read complete article.

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