December 20, 2017 / 2:25 PM / a year ago

Norway's Statkraft targets onshore wind, hydropower after offshore wind exit

OSLO, Dec 20 (Reuters) - Norwegian utility Statkraft will use some of the proceeds from its divestment of offshore wind parks to invest in onshore wind farms and hydropower plants, it said on Wednesday.

On Tuesday the state-owned firm sold to a Chinese-led consortium its last stake in an offshore wind park, Britain’s Dudgeon, bringing its total 2017 cash divestment proceeds to 1.2-1.5 billion pounds.

“We have a plan to invest in maintaining our hydropower dams and build more renewables, such as solar and onshore wind. We will be active with Scottish wind farms and keep looking in South America,” said company spokesman Lars Magnus Gunther.

Statkraft is Norway’s largest power producer and the third-largest in the Nordics. It has 376 power plants across 16 countries, mostly hydropower dams in Norway, but is seeking to expand its international activities further.

In October, Statkraft partnered with Airvolution, a British wind farm developer, to build or acquire up to 300 megawatts of onshore wind capacity within two years in Scotland.

The Dudgeon farm was the third offshore wind asset Statkraft sold from this year, after divesting from the Triton Knoll project and the Sheringham Shoal wind farm offshore Britain. (Reporting by Lefteris Karagiannopoulos, editing by David Evans)

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