In an agreement first announced in June, Italian energy company Plenitude has completed the sale of its 20% (720MW) stake in the world's largest offshore wind farm, Dogger Bank A, B and C – which have a combined capacity of 3.6GW – to Vårgrønn, its joint venture with Norwegian energy investor HitecVision.
The deal also sees Norway-based Vårgrønn acquire other early-stage initiatives in its key markets from Plenitude. Meantime, HitecVision increased its ownership share in the company from 30.4% to 35%, with Plenitude retaining the remaining 65%.
Driving forward its strategy to fulfil an ambition for 5GW of installed offshore wind capacity by 2030, Vårgrønn plans to open a London office and double its staffing levels by end of the first half of next year. It has also teamed up with Equinor to develop floating offshore wind at Utsira Nord, formed a consortium with Agder Energi and Corio Generation (formerly Green Investment Group) to bid for a site in the Sørlige Nordsjø II area in Norway, and announced a partnership with Flotation Energy to apply for leases in Crown Estate Scotland's innovation and targeted oil and gas (INTOG) round.