The new spending plan, which could also result in the postponement of "some" international hydropower projects, aims to "balance the goal of profitable growth within renewable energy with Statkraft's financial solidity".
"Offshore wind power is capital intensive. The reduced financial terms from the owner entail that it is not possible for Statkraft to invest in new offshore wind projects," says chief executive Christian Rynning-Tønnesen
Statkraft currently holds a portfolio of stakes in UK offshore wind power developments including Sheringham Shoal, Dudgeon and Dogger Bank.
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