Statoil has signed a deal to take over as opeator of a 317MW offshore wind farm in the UK.
The agreement with Statkraft makes the Norwegian firm the operator of “one of the world’s 10 largest producing offshore wind farm”, it claims.
The Sheringham Shoal wind farm, located off the coast of Norfolk, has being operating since 2012, generating enough green energy to power up to 220,000 homes.
Both companies hold a 40% share, with 20% owned by the Green Investment Bank.
Statoil has also signed an agreement to increase its share in the Dogger Bank projects, the firm added.
The Dogger Bank wind project is expected to have a total capacity of 4.8GW – equivalent to powering five million UK homes.
Irene Rummelhoff, Statoil’s Executive Vice President for New Energy Solutions said: “Dogger Bank represents a unique opportunity for the UK to develop secure, sustainable and cost-competitive energy from its world-class wind resource.”