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    AKH   NO0010921232


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Aker, bp and Statkraft join forces for offshore wind in the Norwegian North Sea

06/14/2021 | 02:31am EDT
bp today agreed to join Statkraft and Aker Offshore Wind in a consortium bidding
to develop offshore wind energy in Norway.  

The partnership - in which bp, Statkraft and Aker Offshore Wind will each hold a
33.3% share - will pursue a bid to develop offshore wind power in the Sørlige
Nordsjø II (SN2) licence area. 

SN2's favourable location provides power export access to local and adjacent
markets. The consortium also intends to explore opportunities to provide clean
power to electrify offshore oil and gas facilities. The partnership would work
with local suppliers, building industrial competencies for Norway's offshore
wind market, and contribute toward value creation in the Nordic and European
energy market. 

The consortium brings together the individual companies' strong technical skills
and deep experience in offshore energy projects, covering the full value chain
from development to the delivery of offshore renewable energy to market.

bp has interests in the offshore wind sector in both the US and UK and a
longstanding onshore wind business in the US. It brings strong North Sea
development and operating experience, international energy trading capabilities
and a disciplined financial framework to the partnership.

Dev Sanyal, bp's executive vice president of gas and low carbon energy, said:
"bp aims to grow our renewables business at scale and we see great opportunities
in offshore wind energy. We have decades of offshore experience in the North Sea
and will also bring our extensive trading capabilities and strong relationships
in Europe. Coming together with Aker and Statkraft, we believe this consortium
will be ideally positioned to effectively and efficiently grow and deliver clean
power for European markets, as well as strengthen the supply to Norway when

As Europe's largest producer of renewable energy, Statkraft's expertise in
energy management and its experience and competence in wind farm development and
operations provide a foundation for success in developing SN2.

Christian Rynning-Tønnesen, chief executive officer of Statkraft, said: "We have
extensive capability from the development and operation of onshore wind around
the world and experience in significant offshore wind projects in the United
Kingdom and Ireland. Strong growth, decreasing technology costs and the
involvement of industrial and financial players all indicate the rising role
that offshore wind will play in Europe. Our partnership with Aker and bp will
create significant value and contribute towards Europe's energy transition."

Aker brings to the project its learnings and know-how from five decades of
designing and executing offshore projects in the North Sea as a supplier,
developer and operator. Aker Horizons will work closely with the consortium on
topics including strategy and financing, and the partnership will also benefit
from the broad capabilities of other Aker companies, including Cognite and Aker
Kristian Røkke, Chairman of Aker Offshore Wind and CEO of Aker Horizons, added:
"Our partnership has the potential to redefine Norway's position as an energy
nation, and the consortium's joint capabilities are building blocks to lead the
energy transition. Together with Statkraft and bp we will work to develop the
Norwegian offshore wind industry, reduce emissions and create new jobs."

With bp joining the Norwegian consortium, energy cooperation between Norway and
the United Kingdom is also further strengthened.

For further information, please contact:

Ivar Simensen, Communications, Tel: +47 46 40 23 17,
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000,

About bpbp's purpose is to reimagine energy for people and our planet, and our ambition
is to be a net zero company by 2050, or sooner, and help the world get to net
zero. bp's strategy is to transform into an Integrated Energy Company focused on
delivering solutions for customers and this will see bp growing net developed
renewable generating capacity to 20GW by 2025 and 50GW by 2030. 
About Statkraft
Statkraft is a leading company in hydropower internationally and Europe's
largest generator of renewable energy. The Group produces hydropower, wind
power, solar power, and supplies district heating. Statkraft is a global company
in energy market operations. Statkraft has 4,500 employees in 17 countries.

About Aker Offshore Wind
Aker Offshore Wind is an offshore wind developer headquartered in Norway with
focus on assets in deep waters. With global operations, the current portfolio
consists of development projects and prospects located in Asia, North America
and Europe. Aker Offshore Wind effectively deploys cost effective technologies
from decades of offshore energy development. The company is majority-owned by
Aker Horizons, an investment company dedicated to creating value and reducing
emissions from renewable energy and decarbonization technologies. Aker Offshore
Wind [AOW-ME] is listed on Euronext Growth in Oslo, Norway.

About Aker HorizonsAker Horizons ASA is a planet-positive investment company dedicated to
developing companies within renewable energy and other technologies that reduce
emissions or promote sustainable living. The company is listed on the Oslo Stock
Exchange and majority-owned by Aker ASA. Aker Horizons' investment portfolio
includes majority stakes in Aker Clean Hydrogen, Aker Offshore Wind, Aker Carbon
Capture and Mainstream Renewable Power.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements in
Regulation EU 596/2014 and the Norwegian Securities Trading Act § 5-12. 
This stock exchange announcement was published by Ivar Simensen, Communications,
Aker Horizons on June 14,  2021 at CET 08:30.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AKER ASA 0.98% 671 Real-time Quote.19.82%
AKER HORIZONS ASA -0.31% 31.8 Real-time Quote.0.00%
AKER SOLUTIONS ASA 2.51% 17.8 Real-time Quote.8.21%
BP PLC 0.77% 320.2 Delayed Quote.25.67%
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More news
Sales 2021 19,0 M 2,21 M 2,21 M
Net income 2021 - - -
Net Debt 2021 6 215 M 724 M 724 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 18 468 M 2 145 M 2 152 M
EV / Sales 2021 1 299x
EV / Sales 2022 -
Nbr of Employees -
Free-Float 19,2%
Duration : Period :
Aker Horizons ASA Technical Analysis Chart | AKH | NO0010921232 | MarketScreener
Technical analysis trends AKER HORIZONS ASA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 5
Last Close Price 31,80 NOK
Average target price 35,75 NOK
Spread / Average Target 12,4%
Managers and Directors
Kristian Monsen R°kke Chief Executive Officer
Nanna Tollefsen Chief Financial Officer
ěyvind Eriksen Chairman
Erik Nyborg Investment Director
Kjell Inge R°kke Director
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