Norwegian state-owned utility Statkraft is considering selling around 5.5GW of offshore wind farms in the UK.

The plan follows the announcement made by the company in 2015 to end new investments in offshore wind projects.

Statkraft intends to divest stakes in the 317MW Sheringham Shoal, 402MW Dudgeon, and 4.8GW Dogger Bank farms.

As part of this effort, Statkraft has already signed a letter of intent to sell its stake in Sheringham Shoal to Norwegian firm Statoil.

Upon completion of the deal, the two companies will own a 40% stake in the farm, while the UK Green Investment Bank will hold the remaining 20%.

Statkraft's executive vice-president Steinar Bysveen said: “With Statoil primed to lead operations of the neighboring 402MW Dudgeon project and Statkraft evaluating a divestment, it makes sense to transfer the Sheringham Shoal operatorship to Statoil.

“Statkraft has played an important role in establishing Sheringham Shoal as one of the UK’s top performing offshore wind farms, and have forged strong relationships locally. We are confident these will continue to thrive in the future under Statoil’s leadership.”

Statoil also agreed to acquire 25% stake in the Dogger Bank project from Statkraft.

With the deal, Statoil will increase its total ownership in the Dogger Bank project to 50% while SSE and innogy will each continue to hold a 25% share.

Statoil said that the deal is expected to complement its oil and gas portfolio with profitable renewable energy and other low-carbon solutions.

Statoil new energy solutions executive vice-president Irene Rummelhoff said: “Taking over the operatorship for Sheringham Shoal represents a milestone for Statoil, as our first operatorship during commercial operations.

“As operator of both the Sheringham Shoal and Dudgeon offshore wind farms, located in the same area, we can further improve efficiency and increase competitiveness across the projects.”

Commissioned in 2012, the Sheringham Shoal project is designed to generate electricity required to power up to 220 000 UK homes.

Image: Statkraft earlier announced its plan to end new investments in offshore wind projects. Photo: courtesy of Statkraft.