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Released July 17, 2014 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Work is set to start on one of the largest offshore windfarm projects in U.K. waters following a final investment decision by Norwegian companies Statoil ASA (NYSE:STO) (Stavangar, Norway) and Statkraft AS (Oslo, Norway).
Construction will begin on the 402-megawatt (MW) Dudgeon offshore windfarm next year. Valued at £1.5 billion ($2.55 billion), Dudgeon is located 32 kilometers (km) offshore, north of the town of Cromer in North Norfolk, and 20km northeast of the existing Sheringham Shoal offshore windfarm. It will use 67 wind turbines, each with a rated capacity of 6 MW, and produce enough electricity for up to 410,000 homes.
Dudgeon was one of a group of eight renewable energy projects that recently signed the first contracts under the U.K. government's new subsidy scheme, known as Contracts for Difference (CfD). CfD guarantees prices for electricity generated by the projects and Dudgeon has become the first of those eight projects to make a final investment decision. The government believes the eight projects, which range from windfarms to biomass, will attract up to 14.6 billion euros ($20.2 billion) in private sector investment and support up to 8,500 jobs. For additional information, see June 12, 2014, article - U.K. Pricing Deal for 4,500 MW of Green Power.
"Today's decision underlines the success of our new contracts and will bring about a steady stream of investment in renewable electricity," claimed U.K. Energy Minister Michael Fallon. "As the best place in the world to invest in offshore wind, the U.K. is attracting millions of pounds of investment, supporting hundreds of local green jobs and strengthening its energy supply with home-grown sources. We have already attracted £34 billion of private sector investment in renewable electricity since 2010, with the potential to create almost 37,000 jobs in the U.K."
Halfdan Brustad, Chairman of the Dudgeon board, added: "We are very satisfied to have reached a positive decision for Dudgeon. This strengthens and confirms Statoil's strategic ambition of gradual and profitable growth as an industrial offshore wind player. Building on the Sheringham Shoal experience, we now look forward to a progressive dialogue with key stakeholders such as the Norfolk public community, the local supply chain and the authorities".
Construction will start with the laying of onshore cables and building an onshore substation. Offshore construction work will start in 2016 with first power expected to be produced in 2017.
View Project Report - 78000407
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Construction will begin on the 402-megawatt (MW) Dudgeon offshore windfarm next year. Valued at £1.5 billion ($2.55 billion), Dudgeon is located 32 kilometers (km) offshore, north of the town of Cromer in North Norfolk, and 20km northeast of the existing Sheringham Shoal offshore windfarm. It will use 67 wind turbines, each with a rated capacity of 6 MW, and produce enough electricity for up to 410,000 homes.
Dudgeon was one of a group of eight renewable energy projects that recently signed the first contracts under the U.K. government's new subsidy scheme, known as Contracts for Difference (CfD). CfD guarantees prices for electricity generated by the projects and Dudgeon has become the first of those eight projects to make a final investment decision. The government believes the eight projects, which range from windfarms to biomass, will attract up to 14.6 billion euros ($20.2 billion) in private sector investment and support up to 8,500 jobs. For additional information, see June 12, 2014, article - U.K. Pricing Deal for 4,500 MW of Green Power.
"Today's decision underlines the success of our new contracts and will bring about a steady stream of investment in renewable electricity," claimed U.K. Energy Minister Michael Fallon. "As the best place in the world to invest in offshore wind, the U.K. is attracting millions of pounds of investment, supporting hundreds of local green jobs and strengthening its energy supply with home-grown sources. We have already attracted £34 billion of private sector investment in renewable electricity since 2010, with the potential to create almost 37,000 jobs in the U.K."
Halfdan Brustad, Chairman of the Dudgeon board, added: "We are very satisfied to have reached a positive decision for Dudgeon. This strengthens and confirms Statoil's strategic ambition of gradual and profitable growth as an industrial offshore wind player. Building on the Sheringham Shoal experience, we now look forward to a progressive dialogue with key stakeholders such as the Norfolk public community, the local supply chain and the authorities".
Construction will start with the laying of onshore cables and building an onshore substation. Offshore construction work will start in 2016 with first power expected to be produced in 2017.
View Project Report - 78000407
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
