Published on September 26th, 2014 | by James Ayre9
Masdar Partnering With Norway’s Statoil & Statkraft For £1.5 Billion Offshore UK Wind Farm
September 26th, 2014 by James Ayre
The noted renewable energy company Masdar has entered into a new partnership with Norway’s Statoil and Statkraft with the intention of together developing a £1.5 billion offshore wind farm in the UK, according to a recent press release.
The 402 MW project — which is slated to be built off the coast of Norfolk in eastern England — is now divvied up pretty evenly between the three partners. Masdar now has a 35% stake, Statoil a 35% stake, and Statkraft a 30% stake.
“As the only OPEC nation supplying both traditional and renewable energy to international markets, the United Arab Emirates (UAE) is committed to accelerating the use of wind energy as an effective means of balancing the global energy mix as we move toward a sustainable, low carbon future,” stated Dr Sultan Al Jaber, chairman of Masdar, Abu Dhabi’s renewable energy company.
The recent, rather large, investment was first made public as part of the media storm accompanying the United Nations’ Climate Change Summit in New York.
Masdar’s stake represents the company’s second major investment in the UK offshore wind farm market — Masdar owns a 20% stake in the 630 MW London Array project as well.
“Combined with London Array, Dudgeon puts Masdar at the forefront of offshore wind development in the UK,” continued Dr Al Jaber. “It will significantly contribute to the expansion of the UK’s renewable energy capacity. It also reinforces the UAE and the UK’s shared commitment to drive the growth of the renewable energy sector.”
The press release provides details:
When completed, Dudgeon will provide clean, reliable energy to approximately 410,000 households in the UK. Offshore construction is scheduled to start in 2016 and the project is expected to be fully operational in late 2017.
The decision to become a partner in Dudgeon underscores Masdar’s belief that the UK represents a major market for investment in offshore wind energy. It also extends the UAE’s leadership as a major provider of energy. Dudgeon adds to Masdar’s broad portfolio of existing clean energy projects. This includes one of the world’s largest CSP plants – the 100 MW Shams 1 in the UAE – and the 117 MW Tafila wind farm in Jordan, alongside numerous other projects. Collectively, they illustrate how the UAE is leading the Middle East’s response in accelerating the deployment and adoption of clean energy around the world.
The engineering, supply, assembly, commissioning and services for the new project will be provided by Siemens — as per the specifics of two contracts awarded to the company back in January.
Image Credit: Masdar