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innogy, Statkraft win UK tender for Triton Knoll offshore wind project

EBR Staff Writer Published 11 September 2017

Germany-based energy company innogy and Statkraft have won a tender in the Contract for Difference (CFD) auction in the UK for their 860MW Triton Knoll offshore wind project.

innogy and Norway’s state-controlled hydropower company Statkraft are in a 50:50 partnership for the new UK offshore wind project, which is expected to be built with an investment of around £2bn.

The partners won the tender from the UK Department for Business, Energy & Industrial Strategy (BEIS) during the latter’s second round of CFD auctions. innogy revealed that the price awarded in the auction was £74.75 per megawatt hour.

According to innogy CEO Peter Terium, winning the UK auction is a major milestone for realizing the offshore wind power project while also proving that the company can prevail in a highly competitive market environment.

Terium added: “A large proportion of our planned investment in growth is intended to flow into renewable energies.

“Together with our grid and retail businesses, they will make innogy the innovative, decentralised and sustainable energy company of the future.”

The Triton Knoll offshore wind farm, which has already been fully approved, is planned to be built 32kms off the Lincolnshire coast in eastern England.

Following the tender win, the partners will move ahead in pushing for a final investment decision on the offshore wind project which is likely to be completed in mid-2018.

Statkraft CEO Christian Rynning-Tønnesen said: “As Europe’s largest generator of renewable energy, Statkraft plays a substantial role in driving forward developments in the renewables industry both in the UK and other markets around the world.

“Our strong partnership with innogy has helped bring forward a cost competitive project that represents value for UK consumers, alongside ensuring future energy security. Investors will now be invited into the project.”

The partners plan to commence offshore construction in 2020 and expect first power generation from the Triton Knoll offshore wind project around mid-2021 while aiming to have the wind farm to be fully operational in 2022.

Image: innogy, Statkraft will build an 860MW offshore wind farm in England. Photo: Courtesy of Phil_Bird/FreeDigitalPhotos.net.