Statkraft to construct and sell first UK merchant wind project
Statkraft has decided to construct the 43 MW Windy Rig wind farm in Scotland, and subsequently transfer ownership of the project post-construction to Greencoat UK Wind PLC.
In addition, Statkraft has further agreed to transfer ownership of the 38MW Twentyshilling wind farm post-construction to Greencoat UK Wind, subject to a final investment decision on the project in early 2020.
Windy Rig and Twentyshilling wind farms are subsidy free projects located in Dumfries & Galloway and were originally developed by Element Power, which Statkraft acquired in September 2018.
Statkraft has agreed to transfer ownership of the projects to Greencoat UK Wind post-construction, with Statkraft managing the construction and providing operational management services for the wind farms once the projects are delivering to the grid. Both projects are due to reach operations in 2021.
“Windy Rig is our first subsidy-free wind project in the UK, and this investment decision is in line with our ambitions to develop our pipeline and deploy 600 MW of renewable projects in the UK by 2025,” said David Flood, Statkraft UK Managing Director.
Twentyshilling Wind Farm consists of 9 wind turbines with a total installed capacity of 38 MW. Windy Rig Wind Farm totals 12 wind turbines and an installed capacity of 43 MW.
In the UK, Statkraft develops, owns and operates renewable production facilities and is also involved in the trading and origination of power from its own projects and those of third parties.
Since 2006, Statkraft has invested GBP 1.4 billion in the UK's renewable energy infrastructure and facilitated over 6 GW of new-build renewable energy generation through Power Purchase Agreements (PPAs). With a portfolio now exceeding 10 TWh per year from almost 300 customers, Statkraft is the leading provider of short and long term PPAs in the UK.