Italian energy major Eni has entered into an agreement with Equinor and SSE to acquire a 20% interest in the Dogger Bank Wind Farm C project in the UK for £140m ($191m). Both Equinor and SSE are selling 10% each, with the farm down transaction expected to close in 1Q 2022.
Following the completion of the transaction, the new overall shareholding in Dogger Bank C will be SSE Renewables (40%), Equinor (40%) and Eni (20%).
Eni also became a partner in Dogger Bank A and Dogger Bank B earlier this year, taking a 20% stake in each project for a total of £202.5m ($277m).
In the UK’s 2019 contract for difference auctions, Equinor and SSE Renewables secured 3.6 GW of offshore wind contracts for Dogger Bank. The first two phases, Dogger Bank A and Dogger Bank B, reached a competitive financial close in 2020.
Dogger Bank, when completed, will be the world’s largest offshore wind farm. In total, it will generate enough renewable energy to meet 5% of the UK’s demand. SSE Renewables will continue to lead development and construction, while Equinor will operate the asset after it is completed.