Sheringham Shoal "going ahead" despite loss of backer
The 315MW Sheringham Shoal offshore wind farm has suffered a blow as one of its backers — Evelop — pulled out, forcing the remaining partner to buy out its stake.
But, the remaining owner StatoilHydro today insisted that the project, which is set to be the UK’s fourth largest offshore wind farm, is still going ahead despite press reports this week that its future was in jeopardy.
“Risk”
A spokesman for the Norwegian company told New Energy Focus that the firm has “gone solo” on the development, saying: “The wind farm is going ahead and we are now continuing preparation for the project. We are a 100% owner now. We have more than enough equity to run this project ourselves, but we need someone to share the risk so we are looking for a new partner.”
StatoilHydro declined to comment on potential investors, but said that the current economic climate is “a concern”. The firm’s spokesman added: “It will be more difficult to get bank equity now, but this is a good project and we’re confident that we will find someone.” …
Sheringham Shoal
In August this year the project was the first of the Crown Estate’s Round Two wind farms to be given the go ahead in the Greater Wash area by the Department for Business, Enterprise and Regulatory Reform (see this New Energy Focus story).
Expected to be operational by 2011, the 315MW Sheringham Shoal wind farm is set to comprise 88 wind turbines 11 miles off the coast of Norfolk.
18 November 2008
Tags: Wind power, Wind energy
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