Statkraft doubles wind sales in 2013

Statkraft is feeling the benefit of projects like Sheringham Shoal

Statkraft is feeling the benefit of projects like Sheringham Shoal

Statkraft doubled its sales of wind power during 2013, with the Norwegian utility and hydropower giant emphasising that wind remains a key priority and growth driver in the year ahead.

Statkraft sold 1.4TWh of wind power last year – up from 0.7TWh in 2012 – thanks to having more capacity in its fleet and benefiting from stronger winds at projects like UK offshore wind farm Sheringham Shoal.

Statkraft’s wind unit remains small within the context of its overall business, accounting for less than 4% of the electricity it sold during the fourth quarter – with hydropower accounting for 94% of sales by comparison.

Nevertheless, the wind unit is growing rapidly and profitably – turning in an underlying operating profit of NKr103m ($16.9m) last year compared to a loss of NKr141m in 2012 – and it has a number of large onshore projects barreling through the pipeline.

Underlying operating revenues for the wind unit hit NKr1.03bn last year, up from NKr511m in 2012.

All turbines are now in place at the 85MW Mörttjärnberget project in Sweden and the 67MW Berry Bum in the UK, and development remains on track at a number of others, including the 270MW Björkhöjden in Sweden.

Meanwhile, Statkraft last month assumed full responsibility for O&M at Sheringham Shoal, its first offshore wind project which it owns jointly alongside Norwegian peer Statoil.

Sheringham Shoal is performing well for both companies, with Statkraft’s share accounting for one-third of the wind power it generated during the most recent quarter.

Dudgeon, another Round 2 UK offshore wind project owned by Statkraft and Statoil, was recently named one of the four offshore wind projects potentially eligible for an early Contract for Difference.

Statkraft expects to make a final investment decision for Dudgeon later this year.

Statkraft noted that it is entering a period of “major investments” to rehabilitate its ageing hydropower plants in Scandinavia.

Those investments will be made in parallel with new hydro and wind projects internationally, it says.

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