StatoilHydro and Norwegian power utility Statkraft have partnered to develop the 315MW Sheringham Shoal offshore wind farm off the coast of Norfolk in the UK.
The wind farm, which will consist of 88 turbines, is planned to start production in 2011. When fully operational, its annual electricity production is expected to be around 1.1TWh, enough energy to power around 220,000 UK homes, claims the company. Total investments are estimated at approximately NOK10 billion.
StatoilHydro said that until now, the 315MW Sheringham Shoal project has been owned 100% by StatoilHydro. Through an agreement, Statkraft will acquire 50% of the shares in the project, thus becoming an equal partner with StatoilHydro. Sheringham Shoal is ready for construction and will be developed according to schedule, with StatoilHydro as the operator during the construction phase.
According to the company, Sheringham Shoal, between 17 km and 23 km off the coast of the town of Sheringham in northern Norfolk, will cover an area of 35 square kilometres. Construction will begin in early summer 2009, and a gradual start-up of production is scheduled for 2011.
Helge Lund, CEO of StatoilHydro, said: We are pleased to announce our decision to go ahead with this project together with Statkraft. We believe our joint efforts will generate value for the companies as well as our owners and society as a whole.
StatoilHydro is an integrated technology-based international energy company primarily focused on upstream oil and gas operations. Headquartered in Norway, the company claims to have more than 30 years of experience from the Norwegian continental shelf, engaging itself in offshore projects.
