Statkraft sells minority interest in UK onshore portfolio to reinvest in new renewable energy

31.07.2014 09:00 | pressrelease

Baillie wind farm

Baillie wind farm

(Oslo/London, 31 July 2014) Statkraft has reached an agreement with Gingko Tree Investment Ltd for the sale of 49 per cent of its onshore wind power portfolio in the UK. Statkraft will continue to manage and operate the wind farms and also continue its relationship with stakeholders and local communities.

Statkraft sells 49 per cent of its interest in the three operational wind farms Alltwalis (Wales), Baillie and Berry Burn (Scotland). The three wind farms are structured under a new holding company, Wind UK Invest Ltd, owned 51% by Statkraft and 49% by the new financial partner.

Statkraft remains manager and operator

The gross installed capacity of the portfolio is 142 MW and encompasses 60 wind turbines. Following the sale, Statkraft will continue to manage and operate the wind farms including the provision of operation and maintenance services and continue to provide market access for the power and renewable certificates generated. Furthermore, Statkraft will continue its relationship with stakeholders and local communities.

“We are very pleased with this agreement and to have a new financial partner in our onshore wind portfolio in the UK. Statkraft is Europe’s leader in renewable energy and a long term investor in the UK renewables sector. We have firm growth ambitions in both onshore and offshore wind power. This agreement enables further growth through project development while at the same time maintaining our industrial role“, said Executive Vice President Jon Brandsar.

The wind farms 

  • Alltwalis Wind Farm: 10 turbines, 23 MW, located north of Carmarthen in Wales, operational since 2009.
  • Baillie Wind Farm: 21 turbines, 52.5 MW, located near Thurso, North Scotland, operational since 2013. 20% of the wind farm remain owned by local partners.
  • Berry Burn Wind Farm: 29 turbines, 66.7 MW, located near Inverness in the North of Scotland, operational since 2014.

Statkraft is Europe’s leader in renewable energy. The group develops and generates hydropower, wind power, gas power and district heating, and is a major player on the European energy exchanges. Statkraft has 3 700 employees in more than 20 countries.

For more information, please contact:

Spokesperson Knut Fjerdingstad, Statkraft, tel +47 90 18 63 10
E-mail: knut.fjerdingstad@statkraft.com