Statkraft Exits Last Offshore Wind Project, China Resources Buying 30% of Dudgeon OWF

Statkraft has now divested all holdings in offshore wind with its stake in the Dudgeon offshore wind farm being acquired by a consortium led by China Resources (Holdings) Company Limited, who will buy Statkraft-owned 30% for GBP 555 million.

The announcement on the Dudgeon stake sale comes only a few days after Statkraft informed that it had signed an agreement to sell its 40% in the Sheringham Shoal to the UK fund manager Equitix.

Statkraft decided to no longer invest in offshore wind and to exit existing projects due to limited financial capacity, and will further focus on growth in hydropower, onshore wind, solar, district heating and other new renewable energy technologies.

The new owner of the 402MW Dudgeon, who will join Statoil (35%) and Masdar (35%), is a state-owned Chinese enterprise with businesses in power, consumer products, real estate, cement, gas, pharmaceuticals and finance.

The offshore wind farm, comprising 67 Siemens 6MW wind turbines installed off the coast of Norfolk in England, was fully commissioned in October and officially opened on 22 November.