It will be the world's first floating wind farm, but it will not be funded exclusively by Norwegian money as previously expected. This emerged today after Norway's Statoil sold 25 percent of the Hywind Scotland project – the world's first floating wind farm – to the Abu Dhabi's national fund Masdar.
Hywind, which is located off of Peterhead in Aberdeenshire, Scotland, will supply about 20,000 homes with electricity when complete in late 2017. The farm will consist of five Siemens 6 MW turbines. According to Statoil, it will cost NOK 2 billion (EUR 221 million) to construct Hywind. As such, the farm holds the prospect of supplying electricity at a price 60-70 percent below what offshore wind has thus far cost in Scotland, according to estimates from Statoil.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for EnergyWatch has now started
With your free trial you get:
Full access to all locked articles on EnergyWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.