Abu Dhabi-based renewable energy company Masdar has partnered with Norway’s Statoil and Statkraft in a 402 MW offshore wind farm project, off the Norfolk coast in Eastern England.

Masdar acquired a 35 percent stake in the project from Statoil, leaving Statoil with a 35 per cent stake and remaining operator of the project, while the remaining 30 per cent is owned by Statkraft, said a statement.

Dr Sultan Al Jaber, chairman of Masdar, said: “As the only Opec nation supplying both traditional and renewable energy to international markets, the UAE is committed to accelerating the use of wind energy as an effective means of balancing the global energy mix as we move toward a sustainable, low carbon future.”

The investment was announced on the sidelines of the United Nations’ Climate Change Summit 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, UK Secretary of State for Energy and Climate Change.

Masdar’s stake in Dudgeon is the company’s second major investment in the UK offshore wind energy market. The company also has a 20 per cent stake in the 630 megawatt (MW) London Array project, the world’s largest offshore wind farm, said the statement.

“Combined with London Array, Dudgeon puts Masdar at the forefront of offshore wind development in the UK. It will significantly contribute to the expansion of the UK’s renewable energy capacity. It also reinforces the UAE and the UK’s shared commitment to drive the growth of the renewable energy sector,” said Dr Al Jaber.

“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 UK 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,” Lund added. - TradeArabia News Service