Norwegian oil giant Statoil has taken on a strategic partner as it prepares to build the world’s first floating wind farm off the east coast of Scotland. It has agreed to sell 25% of its assets in Hywind Scotland pilot park to Abu Dhabi renewable energy group Masdar. Statoil said the 30MW wind farm, which will lie about 15 miles from Peterhead, could power 20,000 households. Production is expected to start in late 2017. Under the transaction, Statoil and Masdar have agreed to share the development risk, with Masdar covering 25% of previous and future costs. Statoil will continue to hold a 75% share in Hywind Scotland.
BBC 17th Jan 2017 read more »