Norwegian utility Statkraft has completed its pull-out of offshore wind by signing an agreement to sell its 30% stake in the 402MW Dudgeon offshore array in the UK to state-owned conglomerate China Resources (Holdings) Company for £555m ($742.6m).

The offshore wind park off the coast of Norfolk in England was officially opened on November 22. Its other owners are Norwegian state-oil firm Statoil with a 35% share, and Abu Dhabi clean energy group Masdar with a 30% stake.