Offshore staff
STAVANGER, Norway – 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 about EUR 500 million ($549 million).
Currently Equinor holds a 50% interest in the wind farm located in the German part of the Baltic Sea, 35 km (22 mi) northeast of the Rügen island.
Following the transaction, the company will retain a 25% interest. RWE Renewables (following its takeover of E.ON Climate and Renewables) will remain the operator with a 50% interest.
The closing of the transaction is subject to approval by relevant competition authorities and is expected to take place later in 4Q 2019 including customary purchase price adjustments.
Pål Eitrheim, executive vice president in New Energy Solutions in Equinor, said: “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.”
Roland Dörig, managing partner of Credit Suisse Energy Infrastructure Partners, said this is the company’s first investment in the offshore wind market.
Equinor entered the Arkona project in April 2016.
The Arkona wind farm consists of 60 six-megawatt turbines that are bottom-fixed at water depths of 23 to 37 m (75 to 121 ft). First power from the wind farm was supplied to the grid in September 2018, and all 60 turbines have been generating power since November 2018.
The wind farm has a nameplate capacity of 378 MW and an export capacity of 385 MW and supplies energy equivalent to the demand of 400,000 households.
10/03/2019
