Statoil partners with E.ON on $1.35b wind farm project

Statoil partners with E.ON on $1.35b wind farm project

Statoil (STO:STLO) will partner with Germany’s E.ON Energy (ETR:EOAN) on a US$1.35 billion Arkona offshore wind farm project in the German Baltic Sea.

The Norwegian firm will take a 50 per cent stake in the 385MW wind project. E.ON plans to construct the wind park 35km northeast of Ruegen Island.

The Arkona wind park will be comprised of 60 6-MW Siemens turbines positioned on monopole foundations installed at depths of 23m to 37m.

Eldar Saetre, president and CEO of Statoil said: “We have been delivering gas from Norway through three direct pipelines for over 35 years, and Statoil’s entry into German offshore wind adds a new dimension to the Norwegian-German energy partnership.”

The project will create up to 50 permanent jobs and indirectly provide 100 jobs for external service providers.

E.ON officially opened its 302MW Amrumbank West offshore wind park in the German North Sea earlier this year.

Arkona is expected to begin power generation in 2019. Its annual output is anticipated to be enough for around 400,000 households.