Norwegian energy and power heavyweights StatoilHydro and Statkraft have become equal partners in the 315 megawatt Sheringham Shoal Offshore Wind Farm off the coast of Norfolk in the UK.

By, 2011 the 88-turbine wind farm will start the build-up to 1.1TWh of electricity, or enough to power 220,000 UK homes.

Sheringham Shoal will cost partners 10 billion kroner ($1.48 billion) to build and shows where oil company StatoilHydro is putting its money these days, although Statkraft is now 50/50 equity partner in the project.

Sheringham Shoal is ready for construction as is set to be “the most important wind farm project in both StatoilHydro's and Statkraft's wind energy portfolios”.

With the deal, Statkraft becomes an offshore wind player with a revenue base in Norwegian hydropower.

Meanwhile, StatoilHydro, Statkraft, SSE/Airtricity and RWE/Npower are collaborating on the joint venture Forewind, a bid aimed at the U.K. third wind licensing round.

ws@scandoil.com

Tags: Statkraft, StatoilHydro