Statoil enters German offshore wind power market through EUR 1.2 billion project with E.ON

Source: Statoil

Statoil has entered the German offshore wind power market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.ON also announce the final investment decision on the 385 megawatt project.

Statoil has entered the German offshore wind power market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.ON also announce the final investment decision on the 385 megawatt project.

The estimated total investment for the project will be in excess of EUR 1.2 billion.

The Arkona wind farm will provide renewable energy for up to 400,000 households in Germany, making it one of the largest ongoing offshore wind developments in Europe.

The addition of Arkona increases the total energy production capacity of the offshore wind projects in Statoil’s portfolio by around 50 per cent, and the company’s own production capacity by 65 per cent. The projects now have a combined capacity of more than 1100 MW, supporting more than 1 million European homes with renewable energy.

The Arkona wind farm will be located in the Baltic Sea, 35 kilometres northeast of the Rügen island in Germany, southwest of the Danish island of Bornholm. It will consist of 60 six-megawatt turbines, to be mounted on monopile foundations installed at water depths of 23 to 37 metres.

E.ON will have responsibility for building and operating the wind farm. Up to 400 people will help build the wind farm during the two-year construction phase.

Start of electricity production is expected in 2019. Once in service, the wind farm will create up to 50 permanent jobs for highly skilled staff in operations, administration, and maintenance as well as, indirectly, another 100 jobs for external service providers.

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