Eni has agreed to acquire a 20% stake in the 1200MW Dogger Bank C Dogger Bank C (1200MW) Offshoreoff Yorkshire, UK, Europe Click to see full details project off eastern England. It will acquire 10% stakes, from each of Equinor and SSE Renewables.
On completion of the deal, Equinor and SSE Renewables will each hold 40% stakes, with Eni owning 20% – the same ownership structure as for the 2400MW Dogger Bank A & B Dogger Bank A & B (2400MW) Offshoreoff Yorkshire, UK, Europe Click to see full details project, into which Eni bought in late 2020.
The Dogger Bank C deal is expected to close in the first quarter of 2022, subject to approvals from regulators and lenders, as well as customary purchase price adjustments.
By acquiring its Dogger Bank C stake, Eni will add 240MW to its portfolio. It aims to help develop more than 6GW (net) of installed renewables capacity by 2025.
Equinor and SSE Renewables secured 3.6GW of offshore wind contracts for the Dogger Bank developments in the UK’s 2019 contract for difference (CfD) auction.
GE Renewable Energy will supply 277 of its Haliade-X turbines to the cluster – the 190 at the first two 1.2GW phases will operate at 13MW, while 87 turbines at the third phase will operate at 14MW. All 3.6GW of capacity should be operational by 2026.
Burbo Bank Extension
Meanwhile, two divisions of UK investor Greencoat have agreed to acquire a combined 25% stake in the 258MW Burbo Bank Extension Burbo Bank Extension (258MW) Offshoreoff Liverpool, UK, Europe Click to see full details, from Danish pension fund Pensionskassernes Administration.
Greencoat UK Wind will acquire a 15.7% stake, with a number of pension funds acquiring a 9.3% stake. The former will pay £250 million (€295 million) for its stake, with the acquisition due to close on 30 November 2021.
Afterwards, Burbo Bank Extension’s ownership structure will be Ørsted (50%), Kirkbi (25%) and Greencoat (25%, comprising 15.7% held by Greencoat UK Wind and 9.3% held by pension funds investing through Greencoat Renewable Income).