Equinor sells 25% ownership interest in German offshore windfarm

Equinor has entered into an agreement to sell a 25% ownership interest in the Arkona offshore wind farm to funds advised by Credit Suisse Energy Infrastructure Partners AG for a total amount of approximately EUR 500 million.

Currently Equinor holds a 50% interest in the wind farm located in the German part of the Baltic Sea. Following the transaction, Equinor will retain a 25% interest. RWE Renewables (following their takeover of E.ON Climate and Renewables) will remain the operator with a 50 % interest.

“This divestment demonstrates Equinor’s ability to realise value from the development of offshore wind projects. Active portfolio management through the project life cycle is an important part of our offshore wind strategy. Arkona was delivered under budget and on time and has had strong operational performance since start-up. Now the project is de-risked and in the early phase of operations, and we are pleased to welcome Credit Suisse Energy Infrastructure Partners as new partner,” says Pål Eitrheim, executive vice president in New Energy Solutions in Equinor.

Source / More : Equinor

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