Buying into wind

Norwegian energy firm Hydro is to buy a 50% stake of Scira, a UK group with rights to build a 315MW offshore wind power farm off the coast of Norfolk in eastern England.

Scira Offshore Energy is owned by UK based wind development and engineering company SLP Energy and Dutch sustainable energy development company Ecoventures.

SLP Energy and Ecoventures will each retain a 25% share each of the company for the present, but Hydro has an option to acquire a further 45% of the company which would raise the Norwegian energy and aluminium company's stake to 95%.

Hydro is already involved in wind power generation and is developing a large portfolio of wind projects in Norway. Hydro recently inaugurated the world's first wind and hydrogen power facility on the western Norwegian island of Utsira, which was named ‘Renewable project of the year’ at the 2004 Platt's Global Energy Awards in New York City.