Italian oil and gas company Eni has acquired a 20% stake in the Dogger Bank C offshore wind project in the UK following the completion of agreements with SSE Renewables and Equinor.

The two companies each sold a 10% stake to Eni as part of the wind farm’s third phase.

Under the agreements, Eni paid SSE Renewables and Equinor each a £68m ($92m) consideration, amounting to a total consideration of £136m ($184m).

With the deals now closed, SSE Renewables and Equinor each maintain a 40% stake in Dogger Bank C.  

Located off England’s northeastern coast, the Dogger Bank project will become the world’s largest offshore wind farm after its completion.

The project will have an annual capacity of 18TWh, which is enough to power six million UK homes.

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By GlobalData

It is being built in three phases and is expected to be completed in March 2026.

SSE will continue to lead Dogger Bank Wind Farm’s construction works, while its project partner Equinor will operate the offshore wind facility upon its completion.

In a statement, SSE said: “Dogger Bank Wind Farm is the largest of SSE Renewables’ projects currently in construction.

“SSE Renewables is currently also leading the construction of the Seagreen offshore wind farm, which will be Scotland’s largest on completion, and the wholly owned Viking wind farm, which will be the UK’s most productive onshore wind farm on completion.”

SSE will use the proceeds from the sale to support its Net Zero Acceleration Programme (NZAP), which the company unveiled on 17 November last year.

Earlier this week, the UK’s National Grid Electricity System Operator (ESO) selected Dogger Bank C’s transmission asset to help stabilise voltage levels in the country’s power network.

The project was selected as part of the £22.5m Pennines Voltage Pathfinder process, which seeks to secure reactive power capability until 2034.