Statoil introduces partner in Hywind Scotland

Statoil introduces partner in Hywind Scotland

Irene Rummelhoff, Statoil’s executive vice president for New Energy Solutions. Through the transaction Statoil and Masdar have agreed to share the development risk and Masdar will cover 25% of previous and future costs. Following this divestment Statoil holds a 75% share in Hywind Scotland. The pilot park will cover around 4 square kilometres 25 km offshore Peterhead at water depths of 95-120 metres. The average wind speed in this area of the North Sea is around 10 metres per second.

“We expect floating offshore wind farms to benefit from the general cost development within the offshore wind segment. The objective of the Hywind Scotland pilot park is to demonstrate cost efficient and low risk solutions for future commercial scale floating wind farms. This will further increase the global market potential for offshore wind energy, contributing to realising Statoil’s ambition of profitable growth in renewable energy and other low-carbon solutions,”
says Rummelhoff. windmill The Hywind Scotland substructures have been constructed in Spain and will arrive at the yard at Stord in Norway later this spring followed by assembly during the summer of 2017, before sail off to Peterhead. “Masdar is excited to join the team developing the world’s first floating wind farm, and to build on our partnership with Statoil. Hywind Scotland represents the next stage in the evolution of the offshore wind industry, combining the project management experience and technical expertise of one of the world’s largest offshore energy players – and our own capabilities in renewable energy development acquired over the last decade in the UK and international markets,” says Chief Executive Officer at Masdar, Mohamed Jameel Al Ramahi. Source / More: Statoil Oil and Gas Press Oil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook ]]>

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