The deal should be completed by Q4 2019.After the takeover of E.ON Climate and Renewables has been finalised, RWE Renewables will continue operator with a 50 % interest.
Pal Eitrheim, executive vice president in New Energy Solutions in Equinor, said: “This divestment demonstrates Equinor’s ability to realise value from the development of offshore wind projects.
“Active portfolio management through the project life cycle is an important part of our offshore wind strategy.“Arkona was delivered under budget and on time and has had strong operational performance since start-up.
“Now the project is de-risked and in the early phase of operations, and we are pleased to welcome Credit Suisse Energy Infrastructure Partners as new partner.”
Renewable Energy Is Becoming Popular. Over the course of its recent history, renewable energy has had a fight on its hands. Traditional forms of energy production like coal and oil have made it difficult for renewable energy to become as popular. That, however, is starting to change. By 2018, renewable energy will be around 25% of the world’s gross power generation. In other words, one quarter of the world’s energy output will come from renewable energy sources.
Equinor got involved in the 380 megawatt (MW) Arkona project in April 2016.It was originally a joint venture between the Norwegian energy giant and E.ON, prior to the proposed takeover of RWE Renewables. Roland Dorig, managing partner of Credit Suisse Energy Infrastructure Partners, said: “We are delighted to invest alongside two of the most experienced offshore wind players in the sector, as well as expanding on our existing relationship with RWE Renewables.
“Arkona is our first investment in the offshore wind market, a sector we have identified as a key investment priority.”
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