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Statoil makes $236mn investment in floating wind farm off Scotland

Published November 3, 2015 Updated November 3, 2015 07:27am

1 min

By Parvez Jabri

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OSLO: Norway's oil and gas firm Statoil said on Tuesday it will invest about 2 billion crowns ($236 million) in building a floating wind farm off the Scottish coast, in what it said is set to be the first of its kind in the world.

Statoil, which has run a single floating offshore turbine for several years in Norway, is now planning to build a pilot project consisting of five floating turbines, each with 6 megawatt capacity, off Aberdeen in an area where the water depth is up to 120 metres.

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