Norwegian energy giant Statoil said today that the Dudgeon wind farm in the North Sea had come in 15% under budget.
The development off Great Yarmouth started producing electricity in February, with the last of the 67 turbines installed in September.
Statoil said in September that the Dudgeon had come in under budget.
Today it said construction costs had been reduced by more than 15%, from £1.5billion to about £1.25billion.
Statoil is the operator with a share of 35%. Statkraft and Masdar are partners with shares of 30% and 35% respectively.
Statoil chief executive Eldar Sætre said: “Dudgeon represents an important contribution to realizing the UK’s renewable energy strategy. The UK has already achieved impressive reductions in CO2-emissions with clear policies to phase out coal, and last year achieved the lowest CO2 emissions since before year 1900. Statoil is proud to contribute to this both by being a large supplier of natural gas and by our investments in offshore wind.
“As part of our strategy to develop from an oil and gas company to a broad energy major, Statoil will grow significantly in profitable renewable energy, with an ambition to invest around NOK 100 billion towards 2030. Dudgeon has successfully been developed in cooperation with Masdar and Statkraft, and is a key part of Statoil’s strategy to complement our oil and gas portfolio with profitable renewable energy solutions, as well as adding to Statoil’s strong UK presence.”
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