May 8, 2018 Read More →

Statoil Sees Growth Potential in Offshore Wind

Reuters:

LONDON/OSLO—Statoil is working with its partner SSE to develop the Dogger Bank offshore wind project so it can take part in Britain’s renewable energy subsidy auction in 2019, the company said on Friday.

The planned 4.8-gigawatt (GW) Dogger Bank project, which has approval from the British authorities, is set to become the world’s largest offshore wind park and could deliver more than five percent of Britain’s electricity needs, Statoil Executive Vice President Irene Rummelhoff said in London.

Statoil has a 50 percent stake in the partnership developing 3.6 GW of the approved capacity at Dogger Bank. “The strategic importance of that project to the UK and Statoil can not be overestimated,” Rummelhoff said.

The Norwegian oil and gas firm says it plans to spend up to 15-20 percent of capital spending on “new energy solutions” by 2030, as part of its effort to become a “broad energy” company.

Last year, Statoil built the world’s first floating offshore wind park off Scotland, using in-house technology. Its plans also include developing a 1.5-GW offshore wind park in the United States outside New York. “We see growing potential for floating (wind projects),” Rummelhoff said. “We expect about 13 GW floating offshore wind to be installed by 2030. On a global basis, we hope to take a fair share of that.”

More: Statoil Eyes Britain’s 2019 Renewable Subsidy Auction For Dogger Bank

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