Statoil has reported that the company will be making a ‘substantial’ investment in offshore wind energy in Europe.
This new investment will increase the total production capacity for Statoil’s offshore wind power project by about 50 percent, the company said in a statement. Statoil will therefore be able to supply renewable energy to more than 1 million households in Europe.
Statoil has already invested in several wind projects in the UK, but will now go into ‘secondary wind markets,’ stated the press release.
“This investment represents an important milestone for the development of Statoil’s business in new energy solutions,” writes Statoil.
Source: NTB scanpix / Norway Today