Norwegian energy company Statkraft banked Nkr3.1bn from the sale of two UK offshore wind holdings in the final quarter of 2017, the majority of which will be used to fund new renewables investments.
The company said in quarter four 2017 results that the hiving off of the UK assets “significantly strengthens” its financial capacity and will give it a “solid foundation” for further growth.
It is “actively exploring” new hydro, wind, solar and other renewables opportunities, including a new biofuel asset in Norway in partnership with Sodra.
The sale of a 40% shareholding in the 317MW Sheringham Shoal (pictured) project to Equitix and TRIG and a 50% stake in the 860MW Triton Knoll to Innogy account for the Nkr3.1bn gain.
Its sale of a 30% shareholding in the 402MW Dudgeon project to China Resources is not included but is expected to close shortly for a total consideration of £555m.
Overall, Statkraft said it recorded an underlying EBITDA of Nkr4.8bn, up Nkr115m compared with the same period in 2016.
Quarterly net profit stood at Nkr5.3bn, up from Nkr4.6bn.
Chief executive Christian Rynning-Tonnesen said the financials represent the company’s strongest result since 2008.
Image: Statkraft
Statkraft to splash offshore cash
By EBS