View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
March 1, 2021

Eni completes acquisition of stake in Dogger Bank A and B wind farms

Eni has completed the acquisition of a 20% stake in the first two phases of the 3.6GW Dogger Bank Wind Farm in the North Sea for £206.4m ($287.3m).

By Umesh Ellichipuram

Eni has completed the acquisition of a 20% stake in the first two phases of the 3.6GW Dogger Bank Wind Farm in the North Sea for £206.4m ($287.3m).

SSE Renewables and its project partner Equinor each have sold 10% of their shareholding in the 1.2GW Dogger Bank A and 1.2GW Dogger Bank B projects.

The latest move follows the signing of agreements for these two deals in December.

Now, SSE Renewables and Equinor have reduced their interest in the projects to 40% each and Eni owns a 20% stake in each project.

Eni entered the wind farm assets effective from the financial close of project funding in November.

SSE Renewables said in a statement: “SSE’s approach to selling down stakes to retain typically 30%-40% equity in a project and working with equity partners during construction and/or operation brings a number of benefits. Partners can be introduced at a variety of stages of the project lifecycle, depending on their risk appetites.

“It also reduces overall risk and financial exposure on large-scale projects and avoids a large increase in net debt that is not earning.”

Located off the north-east coast of England, Dogger Bank Wind Farm is claimed to be the largest of SSE Renewables’ projects currently in construction.

The project is being developed in three phases and SSE Renewables and Equinor each hold a 50% stake in the third phase, 1.2GW Dogger Bank C.

At present, SSE Renewables is also constructing the 1,075MW Seagreen offshore wind farm and its wholly owned 443MW Viking wind farm.

Related Companies

Free Report

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy