Eni also joins Dogger Bank C with 10% interest

Thursday, February 10 2022

Wind Energy – Dogger Bank

SSE Renewables has completed the agreement to sell a 10% interest in Dogger Bank C offshore wind farm to Eni.

Eni has today officially joined the Dogger Bank C project partnership after both SSE Renewables and Equinor completed agreements to sell a 10% interest each in the third phase of the wind farm to the company.

Eni is already a partner with SSE Renewables and Equinor on the first two phases of Dogger Bank Wind Farm, which will be the world’s largest offshore wind farm when complete in 2026. Now, with the completion of this deal, Eni takes a combined 20% equity stake in the third phase of the 1.2GW project, further strengthening the partnership between SSE Renewables, Equinor and Eni to deliver the world’s largest offshore wind farm.

Eni entered the Dogger Bank C project alongside SSE Renewables and Equinor with effect from project financial close, which was reached on 1 December 2021. The combined total equity consideration received at closing was GBP £136m, or GBP £68m to both SSE Renewables and Equinor for each 10% stake. Both SSE Renewables and Equinor each maintain 40% stakes in Dogger Bank C following completion.

With Eni joining SSE Renewables and Equinor across all three phases of this world-leading project, Dogger Bank Wind Farm now has the benefit of a consistent combination of equity partners across all of its three phases, enabling further synergies during both construction and operations. SSE Renewables will continue to lead on the development and construction of Dogger Bank Wind Farm, and Equinor will operate the asset on completion.