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Statkraft Sells 40% Share in Sheringham Shoal Wind Farm

Source: www.gulfoilandgas.com 12/15/2017, Location: Europe

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Statkraft has signed an agreement to sell its stake in the Sheringham Shoal offshore wind farm to the UK fund manager Equitix.

Sheringham Shoal is a 316.8 megawatt offshore wind farm located in the Greater Wash area off the coast of Norfolk, UK. It has been in operation since October 2012. The wind farm is owned by Statoil (40 per cent), the offshore wind fund managed by Green Investment Group Management Limited (20 per cent) and Statkraft (40 per cent).

The agreed purchase price for the 40 per cent share is GBP 558 million. The transaction is expected to be completed in the fourth quarter 2017.

The agreement is in line with Statkraft's strategy entailing that the company no longer will invest in new offshore wind projects and that holdings in offshore wind assets will be divested.

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