Statoil and Statkraft nearing Sheringham Shoal stake sale

11 Aug 2014 – Statoil and Statkraft are in talks to sell about 50% of their jointly-owned Sheringham Shoal offshore wind farm in the UK to Green Investment Bank and Arcus Infrastructure Partners, a source and a person claiming knowledge told this news service.

An announcement is about a month away, the source said.

Mergermarket first reported Statkraft and Statoil’s intention to sell part of the 317MW wind farm, and that they had mandated Rothschild to advise on the process, in February. Statoil and Statkraft hold equal stakes in the wind farm through the joint venture company Scira Offshore Energy.

The project was a GBP 1bn investment that first came online in 2012. In January, Statkraft announced it had taken over as sole operator of the wind farm.

The market for offshore wind farms is about GBP 4m per MW, a sector banker said, meaning that a 50% stake of Sheringham Shoal might be valued at about GBP 634m.

Statkraft, Statoil, Arcus and the Green Investment Bank all declined to comment.

by Giovianni Amodeo & Katie McQue

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