Eni buys additional Dogger Bank stake for $191m

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.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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