SSE Renewables has completed an agreement to sell a 10% interest in 1200MW Dogger Bank C offshore wind farm to Eni.
As part of this transaction Eni has also completed a deal to purchase a 10% interest in the wind farm from project partner Equinor on the same terms.
Eni entered the Dogger Bank C project with effect from project financial close which was reached on 1 December 2021.
The total consideration received at closing was £68m.
SSE said it intends to use the proceeds of this deal to support the delivery of its Net Zero Acceleration Programme that was published last year.
The company added that it will continue to lead on the development and construction of Dogger Bank Wind Farm, while Equinor will operate the asset on completion.
The 3.6GW Dogger Bank complex is the largest of SSE Renewables’ projects currently in construction.
Once the three phases are complete, which is expected by March 2026, Dogger Bank will be the largest offshore wind farm in the world.
In total it is expected to generate around 18 terawatt-hours annually, enough renewable electricity to supply 5% of the UK’s demand and equivalent to powering six million UK homes.
SSE is also currently leading the construction of the 1.1MW Seagreen offshore wind farm, in which it owns a 49% share, as well as it’s the wholly-owned 433MW Viking wind farm, both located in the UK.