Old Dogger, new tricks

4 December 2020 By George Hay, Ed Cropley Follow @gfhay

The Italian oil major is paying utility SSE and Norway’s Equinor just over 3 mln pounds per megawatt for a 20% stake in the first two phases of the Dogger Bank project. It’s cheaper than past offshore developments. That’s mainly because new farms don’t carry such big subsidies.

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Italian oil company Eni said on Dec. 4 it was buying a 20% stake in the North Sea Dogger Bank Wind Farm project from Norway’s Equinor and Britain’s SSE for 405 million pounds ($545 million).

SSE and Equinor said they would each receive 200 million pounds in cash from the deal, which is expected to close early next year.

The deal covers the development’s first two phases for 2.4 gigawatts of installed wind-turbine capacity. When fully complete, Dogger’s 3.6 gigawatt capacity is expected to make it the world’s largest offshore wind farm.

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