Germany’s Innogy has agreed to buy out joint venture partner Statkraft’s 50% stake in the 860MW Triton Knoll offshore wind project in UK waters, just weeks after the £2bn ($2.6bn) project emerged as a winner in the UK’s contract for difference (CfD) auction.
Statkraft's divestment comes as no surprise, after the Norwegian utility concluded it is not large enough to compete in the fast-maturing and capital-intensive European offshore wind sector.
