Wind delivers for Norway's Statkraft

Norwegian power utility Statkraft said wind development will be central to its future plans, as profits from the renewable source grew on increased capacity.

Wind output at Statkraft increased to 0.5TWh in the first quarter of 2014 from 0.3TWh at the same stage last year.

The boost came as a result of higher production at England’s Sheringham Shoal offshore wind farm – which Statkraft co-owns with compatriot Statoil – and new onshore capacity coming onstream in the UK and Sweden.

The wind power division delivered a first-quarter operating profit to Statkraft of NKr125m ($21m), up from a year-ago NKr41m.

The utility has a 30% share in the UK’s Dudgeon offshore wind farm, again co-developed with Statoil, and confirmed it expects an investment decision to be made on that plant in the second half of 2014.

Statkraft CEO Christian Rynning-Tønnesen said: “Statkraft aims to develop more wind power. These activities are an important part of our further development as a leading player in renewable energy."

Statkraft’s overall underlying operating profit was  NKr3.83bn in the first quarter, down from NKr4.18bn in the year-ago equivalent.