Offshore electricity project bought by Norway's Statkraft

Beat the price hikes! Switch for the chance to WIN a TV!

Switch for the chance to win a TV (T&Cs apply)

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £482 or more.

State-owned Norwegian utility firm Statkraft has agreed to buy a 50 per cent stake in a British offshore windfarm project owned by StatoilHydro.

The deal is worth an estimated five billion crowns (£500 million).

Both firms will develop the ten billion crown project which could supply some 220,000 households with electricity.

The project will be the fourth largest windfarm off the coast of Britain and the wind turbines will be supplied by Siemens.

Statkraft chief executive officer Baard Mikkelsen said: "The partnership with StatoilHydro will take us into the offshore wind industry as well, which is in line with our core growth strategy."

According to energy minister Mike O'Brien, building more windfarms in the UK could drive down the cost of electricity for the consumer and contribute to the reduction of the UK's national carbon footprint.

Speaking to a meeting of delegates from the Department of Energy and Climate Change and a range of businesses, Mr O'Brien added that the developments could create thousands of new jobs.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more