Eni acquires 20% stake in 1.2 GW Offshore wind farm in UK

Eni has 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.  

With the completion of this deal, Eni takes a combined 20% equity stake in the third phase of the 1.2 GW project. The combined total equity consideration received at closing was GBP136 million (USD184 million), or GBP68 million (USD92 million) 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. 

The offshore wind project is located off the north-east coast of England and is being built in three 1.2 GW phases and will be the largest offshore wind farm in the world when operational, with an overall capacity of 3.6 GW. The third phase project is being developed on a different timescale to the first two phases, Dogger Bank A and B, which are being constructed at the same time. Dogger Bank C is around 560 km² in size and will connect to the National Grid at the existing Lackenby Substation in Teesside.