Eni to invest in 1.2 GW Dogger Bank C offshore wind farm

Eni has entered into an agreement with Equinor and SSE Renewables to acquire a 20% stake of the 1.2 GW Dogger Bank C project in UK.

Dogger Bank C is the third phase of the world's largest offshore wind farm (3.6 GW) currently under construction. Production will start in subsequent phases with the first phase (DBA) commencing in 2023 and the following respectively in 2024 and 2025. Once completed, Dogger Bank will generate around 18 TWh, enough renewable electricity to supply 5% of the UK’s total demand, equivalent to powering six million UK homes.

Financial close of project financing for the site is expected before the end of 2021. The closing of the transaction is expected in 1Q 2022, subject to customary closing conditions.

Once the transaction is complete, the new shareholding structure will be comprised of SSE Renewables (40%), Equinor (40%) and Eni (20%) for all the three Dogger Bank project phases (A, B and C). The alignment in the participating interest across the three phases will facilitate the capture of material synergies during construction and operation.