- Published: 18 January 2017 18 January 2017
Statoil has agreed to divest 25% of its assets in Hywind Scotland pilot park, the world’s first floating wind farm, to Masdar. Through the transaction Statoil and Masdar have agreed to share the development risk and Masdar will cover 25% of previous and future costs. Following this divestment Statoil holds a 75% share in Hywind Scotland.
The pilot park will cover around 4 square kilometres 25 km offshore Peterhead at water depths of 95-120 metres. The Hywind Scotland substructures have been constructed in Spain and will arrive at the yard at Stord in Norway later this spring followed by assembly during the summer of 2017, before sail off to Peterhead. The partnership also consists of a collaboration agreement which will enable the two companies to work together on clean energy technologies across several markets in the near future.