Home Renewable Energy Statoil renewables chief: aims to cut offshore wind cost by 40 pct
Statoil renewables chief: aims to cut offshore wind cost by 40 pct

Statoil renewables chief: aims to cut offshore wind cost by 40 pct

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* Statoil’s renewable energy chief Irene Rummelhoff made the following statements at the ONS oil and energy conference on Wednesday:

* “Over the last few years we have invested NOK 20 billion ($2.40 billion) in profitable renewable investments. So we are putting real money into this with the ambition to build a new growth leg for Statoil.”

* “We are positioned in the two largest offshore wind markets in the world, the UK and Germany.”

* “Our projects have the ability to power up over one million households in UK and Germany.”

* “We are working extremely hard to get the cost down and we think it has a better cost reduction potential than onshore wind.”

* “The potential of bigger turbines offshore … brings the cost down. The scale potential is also much bigger.”

* “So we see a bright future for cost reduction potential on offshore wind projects. We have a clear road-map to get it down by 40 percent from today’s levels and when we get there it will be highly competitive.”

* “The most attractive markets going forward will be in northern Europe but also in the U.S. There are some very interesting projects coming up both in California and on Hawaii.” ($1 = 8.3374 Norwegian crowns) (Reporting by Joachim Dagenborg, editing by Terje Solsvik)

Source:Reuters

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Anand Gupta Editor - EQ Int'l Media Network

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