Masdar, the Abu Dhabi renewable energy company, today announced its partnership with Norway’s Statoil and Statkraft in a 402MW offshore wind farm project, situated off the coast of Norfolk in eastern England.
Masdar has acquired a 35 percent stake in the Dudgeon Project from Statoil. This leaves Statoil retaining 35 percent and remaining as operator of the project, with the remaining 30 percent owned by Statkraft.
“As the only OPEC nation supplying both traditional and renewable energy to international markets, the United Arab Emirates is committed to accelerating the use of wind energy as an effective means of balancing the global energy mix as we move towards a sustainable, low carbon future,” said Dr. Sultan Al Jaber, Chairman of Masdar.
The investment was announced on the sidelines of the United Nations’ Climate Change Summit which is taking place in New York, in the presence of Dr. Sultan Al Jaber, Helge Lund, CEO of Statoil, Christian Rynning-Tonnesen, CEO of Statkraft, and Ed Davey, the U.K. Secretary of State for Energy and Climate Change.
Masdar’s stake in Dudgeon is the company’s second major investment in the U.K. offshore wind energy market. The company also has a 20 percent stake in the 630MW London Array project, the world’s largest offshore wind farm.
“Combined with London Array, Dudgeon puts Masdar at the forefront of offshore wind development in the U.K.,” said Dr. Al Jaber. “It will significantly contribute to the expansion of the U.K.’s renewable energy capacity. It also reinforces the U.A.E. and the U.K.’s shared commitment to drive the growth of the renewable energy sector.” When completed, Dudgeon will provide clean, reliable energy to approximately 410,000 households in the U.K.. Offshore construction is scheduled to start in 2016 and the project is expected to be fully operational by late 2017.
Helge Lund, CEO of Statoil, said, “The Dudgeon Project represents an important part of Statoil’s renewable energy strategy, and it will generate value to the owners, the offshore wind industry and the U.K. community. Statoil brings extensive offshore competence, while Statkraft brings expertise from the power generation industry. Masdar’s experience and ambitions within renewable energy will add to the quality in this project.” The U.K.’s Energy and Climate Change Secretary, Ed Davey, said, “Masdar’s investment is a strong endorsement of the U.K. as the best place in the world to invest in offshore wind – and it shows the Government’s plan for green growth is working. Since 2010 we have seen, on average, GBP7 billion a year invested in renewables and we expect to see up to GBP50 billion more between now and 2020.” The decision to become a partner in Dudgeon underscores Masdar’s belief that the U.K. represents a major market for investment in offshore wind energy. It also extends the U.A.E.’s leadership as a major provider of energy.
Dudgeon adds to Masdar’s broad portfolio of existing clean energy projects. This includes one of the world’s largest CSP plants – the 100MW Shams 1 in the U.A.E. – and the 117MW Tafila wind farm in Jordan, alongside numerous other projects. Collectively, they illustrate how the U.A.E. is leading the Middle East’s response in accelerating the deployment and adoption of clean energy around the world.
Source : WAM News Agency for United Arab Emirates
