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Joint venture partners SSE Renewables and Equinor have reached financial close on Dogger Bank Wind Farm C. SSE Renewables and Equinor are already constructing the first two phases of the 3.6GW Dogger Bank Wind Farm with Eni, joint venture partner on phases A and B of the offshore wind project to be installed off the north east coast of England.
Now, with financial close being reached on the project’s third phase, Dogger Bank Wind Farm has passed the last important milestone ahead of its construction delivery programme. Total investment in Dogger Bank Wind Farm will be around £9 billion, of which around £3 billion is for phase C including offshore transmission capex in the range of £900-1000m. Dogger Bank C has a capacity of 1,200MW and will generate around 6TWh.
On 2 November 2021 SSE and Equinor announced the sell down of a combined 20% share in Dogger Bank C to Eni (10% each) for a total consideration of £140m. The transaction is expected to close in Q1 2022, subject to regulatory and lenders approvals and customary purchase price adjustments. Eni will enter the asset effective from completion of the sell down transaction. Once the transaction is complete, the new overall shareholding in Dogger Bank C will be SSE Renewables (40%), Equinor (40%) and Eni (20%).
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