Statkraft in U-turn to sell off UK offshore wind farms

offshore-wind-general-govt-picNorway based Statkraft, Europe’s largest generator of renewable energy, has signalled a U-turn and is selling off its UK offshore wind farms.

The about-face follows a loss of 1,417 million kroner in the third quarter of this year. Although underlying operating profits (EBITDA) rose by 2001 million kroner, the company report a net loss due to impairment of assets mainly caused by lower long term price expectations.   

Statkraft’s long term price expectations have been negatively influenced by lower fuel price expectations. This is the main reason for impairments of hydro- and wind-power assets in several countries.

As a result, Statkraft has decided not to invest in new offshore wind projects and subsequently to optimise the existing offshore wind portfolio in the UK. Statkraft has now started preparations for the divestment of offshore wind assets. 

The company did not specify which assets are up for sale.

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