DUDGEON

Earlier this summer, the Dudgeon project passed a final investment decision. In conjunction with this a new partner acquired a 35 percent stake from Statoil. On Tuesday this week, at the UN Climate Summit in New York it was announced that the new partner is Masdar. Statoil retains a 35% stake and remains operator of the Dudgeon project, with the remaining 30% owned by Statkraft.

Statoil's CEO Helge Lund, Masdar's Chairman Dr Sultan Al Jaber, Statkraft's CEO Christian Rynning Tønnesen and UK Secretary of State for Energy and Climate Change Ed Davey were all present at the announcement on Tuesday 23 September.

Masdar is Abu Dhabi's renewable energy company advancing the development, commercialization and deployment of clean energy technologies and solutions. The company is a partner in the development of the London Array offshore wind farm, one of the largest offshore wind parks in the UK. Masdar is wholly owned by Mubadala Development Company PJSC, the strategic investment company of the Government of Abu Dhabi

"On behalf of the Dudgeon Offshore Wind Project, I welcome Masdar as a partner. The new partner secures a strong partnership, adding value to the Dudgeon project", said Statoil’s vice president and Chairman of the Dudgeon Board Halfdan Brustad.

"We believe Dudgeon will play an active role in the development and industrialization of the UK offshore wind industry. All partners bring significant experience into this project; offshore competence, power generation industry expertise and renewable energy experience", Brustad concludes.

Further information can be found at www.masdar.ae

For further information please contact:

Nigel Tompkins [the Norfolk contact for media and community enquiries].
New Ideas for Business
T: 01263 822427
M: 07860 206565
E: nigel@ni4b.co.uk
or
Morten Eek
Dudgeon Offshore Wind Farm project
T:+47 416 89515
E: meek@statoil.com

Issue date: 09-07-15