Al Bhatti
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25 September 2014
Christian Rynning-Tonnesen, Dr Sultan Al Jaber, Ed Davey and Helge Lund.
Masdar takes stake in UK wind farm project
Dudgeon to provide clean energy to 410,000 households in UK
Abu Dhabi Future Energy Company, or Masdar, has expanded its presence in the UK offshore wind farm sector by joining hands with Norway’s Statoil and Statkraft in a 402MW project, off the Norfolk coast in Eastern England.
Masdar acquired a 35 per cent stake in the project from Statoil. This leaves Statoil retaining a 35 per cent stake and remaining operator of the project with the remaining 30 per cent owned by Statkraft.
“As the only Opec nation supplying both traditional and renewable energy to international markets, the UAE is committed to accelerating the use of wind energy as an effective means of balancing the global energy mix as we move towards a sustainable, low carbon future,” said Dr Sultan bin Ahmed Al Jaber, chairman of Masdar, Abu Dhabi’s renewable energy company.
The investment was announced on the sidelines of the United Nations’ Climate Change Summit taking place in New York in the presence of Dr Sultan Al Jaber, Helge Lund, chief executive officer Stateoil, Christian Rynning-Tonnesen, chief executive officer of Statkraft, and Ed Davey UK Secretary of State for Energy and Climate Change.
Masdar’s stake in Dudgeon is the company’s second major investment in the UK offshore wind energy market. The company also has a 20 per cent stake in the 630 megawatt London Array project, the world’s largest offshore wind farm.
“Combined with London Array, Dudgeon puts Masdar at the forefront of offshore wind development in the UK,” said Dr Al Jaber. “It will significantly contribute to the expansion of the UK’s renewable energy capacity. It also reinforces the UAE and the UK’s shared commitment to drive the growth of the renewable energy sector.”
When completed, Dudgeon will provide clean and reliable energy to approximately 410,000 households in the UK. Offshore construction is scheduled to start in 2016 and the project is expected to be fully operational in late 2017.
Helge Lund, CEO of Statoil, said: “The Dudgeon Project represents an important part of Statoil’s renewable energy strategy, and it will generate value to the owners, the offshore wind industry and the UK community. Statoil brings extensive offshore competence, while Statkraft brings expertise from the power generation industry.
Masdar’s experience and ambitions within renewable energy will add to the quality in this project.”
Energy and Climate Change Secretary Ed Davey said: “Masdar’s investment is a strong endorsement of the UK as the best place in the world to invest in offshore wind — and it shows the Government’s plan for green growth is working. Since 2010 we have seen, on average, £7 billion a year invested in renewables and we expect to see up to £50 billion more between now and 2020.”
The decision to become a partner in Dudgeon underscores Masdar’s belief that the UK represents a major market for investment in offshore wind energy. It also extends the UAE’s leadership as a major provider of energy.
Dudgeon adds to Masdar’s broad portfolio of existing clean energy projects. This includes one of the world’s largest CSP plants — the 100MW Shams 1 in the UAE — and the 117MW Tafila wind farm in Jordan, alongside numerous other projects.
The UK is the world’s leader of installed, offshore wind power capacity. The UK government recently agreed to financially support eight new, large-scale renewable energy projects that will power millions of homes — five of them being offshore wind farms. The projects are expected to add 4.5 gigawatt of clean energy capacity to the grid — enough to power more than three million homes. The Dudgeon wind farm is one of the five wind farms being built.
In January, Siemens was awarded two contracts, valued at £516 million Dh3.1 billion for the engineering, supply, assembly, commissioning and service of Dudgeon’s 67 wind turbine generators.
Business - Masdar takes stake in UK wind farm project
-------------------------
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$155b solar energy projects planned in GCC
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UAE opens world's largest solar power plant
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Christian Rynning-Tonnesen, Dr Sultan Al Jaber, Ed Davey and Helge Lund.
Masdar takes stake in UK wind farm project
Dudgeon to provide clean energy to 410,000 households in UK
Abu Dhabi Future Energy Company, or Masdar, has expanded its presence in the UK offshore wind farm sector by joining hands with Norway’s Statoil and Statkraft in a 402MW project, off the Norfolk coast in Eastern England.
Masdar acquired a 35 per cent stake in the project from Statoil. This leaves Statoil retaining a 35 per cent stake and remaining operator of the project with the remaining 30 per cent owned by Statkraft.
“As the only Opec nation supplying both traditional and renewable energy to international markets, the UAE is committed to accelerating the use of wind energy as an effective means of balancing the global energy mix as we move towards a sustainable, low carbon future,” said Dr Sultan bin Ahmed Al Jaber, chairman of Masdar, Abu Dhabi’s renewable energy company.
The investment was announced on the sidelines of the United Nations’ Climate Change Summit taking place in New York in the presence of Dr Sultan Al Jaber, Helge Lund, chief executive officer Stateoil, Christian Rynning-Tonnesen, chief executive officer of Statkraft, and Ed Davey UK Secretary of State for Energy and Climate Change.
Masdar’s stake in Dudgeon is the company’s second major investment in the UK offshore wind energy market. The company also has a 20 per cent stake in the 630 megawatt London Array project, the world’s largest offshore wind farm.
“Combined with London Array, Dudgeon puts Masdar at the forefront of offshore wind development in the UK,” said Dr Al Jaber. “It will significantly contribute to the expansion of the UK’s renewable energy capacity. It also reinforces the UAE and the UK’s shared commitment to drive the growth of the renewable energy sector.”
When completed, Dudgeon will provide clean and reliable energy to approximately 410,000 households in the UK. Offshore construction is scheduled to start in 2016 and the project is expected to be fully operational in late 2017.
Helge Lund, CEO of Statoil, said: “The Dudgeon Project represents an important part of Statoil’s renewable energy strategy, and it will generate value to the owners, the offshore wind industry and the UK community. Statoil brings extensive offshore competence, while Statkraft brings expertise from the power generation industry.
Masdar’s experience and ambitions within renewable energy will add to the quality in this project.”
Energy and Climate Change Secretary Ed Davey said: “Masdar’s investment is a strong endorsement of the UK as the best place in the world to invest in offshore wind — and it shows the Government’s plan for green growth is working. Since 2010 we have seen, on average, £7 billion a year invested in renewables and we expect to see up to £50 billion more between now and 2020.”
The decision to become a partner in Dudgeon underscores Masdar’s belief that the UK represents a major market for investment in offshore wind energy. It also extends the UAE’s leadership as a major provider of energy.
Dudgeon adds to Masdar’s broad portfolio of existing clean energy projects. This includes one of the world’s largest CSP plants — the 100MW Shams 1 in the UAE — and the 117MW Tafila wind farm in Jordan, alongside numerous other projects.
The UK is the world’s leader of installed, offshore wind power capacity. The UK government recently agreed to financially support eight new, large-scale renewable energy projects that will power millions of homes — five of them being offshore wind farms. The projects are expected to add 4.5 gigawatt of clean energy capacity to the grid — enough to power more than three million homes. The Dudgeon wind farm is one of the five wind farms being built.
In January, Siemens was awarded two contracts, valued at £516 million Dh3.1 billion for the engineering, supply, assembly, commissioning and service of Dudgeon’s 67 wind turbine generators.
Business - Masdar takes stake in UK wind farm project
-------------------------
Related threads:
UAE 3rd in the world for total solar power capacity & investment
Masdar likely to launch wind project in Egypt on the Red Sea
$155b solar energy projects planned in GCC
London Array, worlds largest offshore wind farm, inaugurated
UAE opens world's largest solar power plant
UAE plans for solar energy projects in Afghanistan and the Kingdom of Tongo
