Equinor and SSE have each agreed to sell a 10% stake in the 2.4GW 2400MW Dogger Bank A & B offshore wind farm to Italian oil giant Eni.
With completion of the sale, Equinor and SSE will each own a 40% stake in the project off the north-east coast of England and Eni will hold a 20% stake in the wind farm.
The transaction is expected to close in early 2021, subject to approvals from regulators and lenders, as well as customary purchase price adjustments.
There is no change to the ownership structure of the third phase, 1200MW Dogger Bank C , in which Equinor and SSE each have a 50% stake.
The deal marks Eni’s entry into the UK offshore wind market. It aims to have 5GW of net installed renewable energy capacity.
SSE and Equinor recently reached financial close on the first two phases of its 3.6GW Dogger Bank complex.
These first two phases of the wind farm will feature GE’s 13MW Haliade-X turbines and are expected online by 2024.