Statoil Buys Half of $1.4 Billion EON German Wind Project - Bloomberg
▻http://www.bloomberg.com/news/articles/2016-04-25/statoil-buys-50-stake-in-1-4-billion-eon-german-wind-project
Statoil ASA, Norway’s biggest oil company, bought a 50 percent stake in EON SE’s Arkona offshore wind farm, entering the German market and widening its renewable-energy portfolio as it scales back its funding for traditional fossil-fuel projects.
Statoil and EON will invest more than 1.2 billion euros ($1.4 billion) in the project, which lies 35 kilometers (56 miles) off the German island of Ruegen, the Stavanger-based company said in an e-mailed statement. Electricity production is scheduled to start in 2019 and will power as many as 400,000 households, it said. Siemens AG will supply the turbines.