GBP1.3 Billion Announcement for UK Offshore Wind Industry

Statkraft, Statoil and Masdar have announced that a GBP1.3 billion agreement has been reached to achieve financial closure on a major offshore wind farm project. This shows that investor confidence in the UK’s offshore wind market remains high, according to RenewableUK.

The 402 megawatt Dudgeon project is already under construction off the north Norfolk coast, creating local jobs and opportunities for supply chain companies throughout the UK. More than 50% of the construction cost is due to be spent in the UK supply chain. Commercial operation is due to start by the second half of 2017, powering more than 400,000 homes.