Statkraft sells minority interest in UK onshore portfolio

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Statkraft sells minority interest in UK onshore portfolio

Statkraft has reached an agreement with China's Gingko Tree Investment Ltd for the sale of 49% of its onshore wind power portfolio in the UK.

The gross installed capacity of the portfolio is 142 MW and encompasses 60 wind turbines. Following the sale, Statkraft will continue to manage and operate the wind farms including the provision of operation and maintenance services and continue to provide market access for the power and renewable certificates generated. Furthermore, Statkraft will continue its relationship with stakeholders and local communities.

The three wind farms are structured under a new holding company, Wind UK Invest Ltd, owned 51% by Statkraft and 49% by the new financial partner. The wind farms are the following:

  • Alltwalis Wind Farm: 10 turbines, 23 MW, located north of Carmarthen in Wales, operational since 2009.
  • Baillie Wind Farm: 21 turbines, 52.5 MW, located near Thurso, North Scotland, operational since 2013. 20% of the wind farm remain owned by local partners.
  • Berry Burn Wind Farm: 29 turbines, 66.7 MW, located near Inverness in the North of Scotland, operational since 2014.

Jon Brandsar, Statkraft Executive Vice President, stated:

We are very pleased with this agreement and to have a new financial partner in our onshore wind portfolio in the UK. Statkraft is Europe’s leader in renewable energy and a long term investor in the UK renewables sector. We have firm growth ambitions in both onshore and offshore wind power. This agreement enables further growth through project development while at the same time maintaining our industrial role.

Statkraft is Europe’s leader in renewable energy. The group develops and generates hydropower, wind power, gas power and district heating, and is a major player on the European energy exchanges. Statkraft has 3 700 employees in more than 20 countries.

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