Today the UK GIB has bought a 20% stake in
Sheringham Shoal, the strategy behind this decision is to eventually transfer
its investments into a new offshore wind fund. This fund has been set up
to help draw in investors and bring more capital to offshore wind.
The 317MW offshore wind farm started operating in October 2012, GIB has
bought a 20% stake in the wind farm from Statkraft and Statoil in Scira
Offshore Energy. Scria Offshore Energy the owners of Sheringham Shoal agreed
a value of £240m.
Shaun Kingsbury, Chief Executive, UK Green Investment Bank has said:
"This is an important investment for the UK offshore wind sector in
two respects.
Firstly, it allows two strategically
important investors, Statkraft and Statoil, to take part of their investment
in an operating project and reinvest it in other projects.
Secondly, we intend, in time, to transfer
the asset to our proposed Operating Offshore Wind Fund, which is intended
to attract new investors and new capital to the UK."
Sheringham Shoal has been generating
over 1.1TWh of net renewable electricity annually. This generates enough
energy to power over 220,000 homes. Roughly
equating to the domestic demand of the county of Norfolk.
Business Secertary, Vince Cable has
said:
"The
UK’s offshore wind sector is incredibly important to the UK, currently
supporting 6,000 jobs and contributing millions to the economy each year.
Britain leads the world in offshore wind power generation and this latest
investment by GIB will cement that position.
The deal would not have happened without
the Green Investment Bank - it is at the heart of our industrial strategy
to create green jobs and growth."
Olav Hetland, Senior Vice President for
Offshore Wind, Statkraft, has said:
"Statkraft
is very pleased to have the UK Green Investment Bank as a new partner in
Sheringham Shoal Offshore Wind Farm. As Europe’s leader in renewable energy
and a long term investor in the UK, we have firm growth ambitions in the
UK’s offshore wind sector. This agreement enables further investments
in project development while at the same time maintaining our industrial
role as operator of Sheringham Shoal offshore wind farm."
Siri Espedal Kindem, Senior Vice President
for Renewable Energy, Statoil, has said:
"We
are very satisfied to have reached an agreement with the UK Green Investment
Bank. This agreement is great news for Statoil and Statkraft as it enables
us to realise value created through the development and construction phase
of the Sheringham Shoal Wind Farm. It also demonstrates that investments
in the UK renewable business are attractive."
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