- Published: 04 December 2020 04 December 2020
Dogger Bank Wind Farm owners SSE Renewables and Equinor have confirmed Eni will join as a partner in the first two phases of the offshore wind farm. Eni will enter the joint venture with a 20% stake in Dogger Bank A and B, equivalent to 480MW across these two phases when the transaction is complete in early 2021.
The combined value of the equity consideration is GBP £405m, subject to adjustments for interest on closing, or GBP £202.5m to both SSE Renewables and Equinor for each 10% stake. Both SSE Renewables and Equinor will each retain 40% in Dogger Bank A and B, with SSE Renewables continuing to lead the development and construction of the overall wind farm, and Equinor retaining responsibility for operation for the wind farm’s life of around 35 years. There is no change to the ownership of the third phase, Dogger Bank C, in which SSE Renewables and Equinor each have a 50% stake.