Masdar Abu Dhabi Future Energy Co. to buy half of Statoil’s shares in Dudgeon offshore wind park

It has recently been announced by TUjobs.com that Masdar (Abu Dhabi Future Energy Co.) will buy half of Statoil’s shares in Dudgeon offshore wind farm.

In June, Statoil, in collaboration with Statkraft, decided to build the offshore wind park, Dudgeon, off the east coast of England. Now, Masdar is set to buy half of Statoil’s shares, meaning the two companies will each own 35 percent of the wind farm, with Statkraft owning 30 percent.

This agreement was signed on 23rd September, during the 2014 UN Climate Summit in New York, between Statoil CEO Helge Lund, Statkraft CEO Christian Rynning-Tønnesen, UK Energy Minister Ed Davey, and Masdar’s Chairman Sultan Al Jaber.

Spokesperson for Statoil, Morten Eek, explains to Teknisk Ukeblad, “We are pleased to have a partner with ambitions in renewable energy technology. Masdar is a business incubator that invests and develops these technologies.”

Construction of the offshore wind farm is set to begin in 2016, and is set to generate least 70 local jobs in the operational phase. In addition, jobs during the construction period, and indirectly through the supply chain.

For more information on this story, visit http://www.tujobs.com/news/313246-arabs-buy-half-of-statoils-offshore-wind-farm-shares

Olafur

Recent Posts

Base Station RF Power Amplifier Market to Experience Significant Growth Amid 5G Expansion and Rising Mobile Device Adoption

October 24, 2024 – Metastat Insights – The global Base Station RF Power Amplifier market…

2 weeks ago

World Leaders in Aeronautics, Defence, and Aerospace to Attend the Marrakech Air Show 2024

London, 23rd October 2024 – Under the High Patronage of His Majesty King Mohammed VI,…

2 weeks ago

Sunshine State Dentistry of Boynton Beach Launches New Website to Provide Patients with a Seamless Digital Experience

Boynton Beach, FL – September 10, 2024 – Sunshine State Dentistry of Boynton Beach, led…

2 months ago

Metastat Insights Projects Significant Growth in Tattoo Supplies Market by 2031

Sep 10, 2024 – Dallas, TX – A new report by Metastat Insights reveals that…

2 months ago

RIMC Celebrates 20th Anniversary, Bringing Global Digital Marketing Insights to Iceland

Reykjavik, Iceland – September 2024 – The Reykjavik Internet Marketing Conference (RIMC), Iceland's longest-running digital…

2 months ago

The Inspiring Journey of Sleipnir Tours

Hafnarfjörður, Iceland, July 16, 2024 – One evening in Iceland, Ástvaldur, the founder of Sleipnir…

4 months ago