Statoil Buys Half of $1.4 Billion EON German Wind Project

  • Statoil's first investment in offshore wind power in Germany
  • Makes investment decision with EON for 385 MW project

Statoil ASA, Norway’s biggest oil company, bought a 50 percent stake in EON SE’s Arkona offshore wind farm, entering the German market and widening its renewable-energy portfolio as it scales back its funding for traditional fossil-fuel projects.

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