Statoil aims to sign power purchase agreement in New York by end-2018

1 Nov 2017   Wind

Norway’s Statoil aims to sign a power purchase agreement with a U.S. utility to develop an offshore wind power project off New York, a senior company official said on Tuesday.  Statoil won a lease sale of 79,350 acres offshore New York, which could be potentially used to develop up to a 1 gigawatt (GW) capacity wind power park, by bidding $42.5 million last December. “Now we need to sign a power off-take agreement to develop the project. The counterpart would be one of New York’s utilities,” Stephen Bull, Statoil’s senior vice president, told Reuters on the sidelines of a conference. “We expect to sign the agreement toward the end-2018,” he added. Statoil, which also supplies New York with natural gas from the Northern Marcellus shale play, sees the […]

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