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Statkraft Transfers Sheringham Shoal Operatorship to Statoil

Source: www.gulfoilandgas.com 3/31/2017, Location: Europe

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Statkraft has successfully completed the process to transfer the operator role at Sheringham Shoal Offshore Wind Farm. Statoil who are an existing shareholder in the project will formally take over the responsibility from 1st April 2017.

Statkraft continues to hold a 40% share in Sheringham Shoal, together with partners Statoil and Green Investment Bank, through the company Scira Offshore Energy Limited. In addition Statkraft holds the power purchase agreement for the project which extends until November 2029.

The transfer of the operator role at Sheringham Shoal supports Statkraft's strategy to evaluate opportunities to divest the project during 2017. A formal process is set to commence in June and will also include Statkraft's 30% share in Dudgeon Offshore Wind Farm.

Sheringham Shoal has been one of the UK's best performing offshore wind farms during Statkraftís time as operator and has maintained an exceptional record for Health and Safety. The 317 MW project is located off the coast of North Norfolk and consists of 88 turbines capable of providing power for around 220,000 UK homes.

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