SSE Renewables and joint venture partner Equinor have reached financial close on Dogger Bank C, the third phase of the offshore wind farm based in the UK.
The total investment in Dogger Bank Wind Farm will be approximately £9 billion ($12 billion), with around £3 billion ($4 billion) allocated for phase C including offshore transmission.
The first two phases of Dogger Bank Wind Farm are currently being constructed off the northeast coast of England, with all three phases expected to be complete in March 2026.
Alistair Philips-Davies, SSE Chief Executive, said: “It is a fantastic achievement to be reaching financial close on the third phase of the world’s largest offshore wind project, just weeks after COP26 concluded in Glasgow and today marks an important early milestone in the delivery of our own Net Zero Acceleration Programme.
“Our plans will enable delivery of over 25% of UK’s 2030 40GW offshore wind target, whilst also expanding overseas, delivering over 20% of upcoming UK electricity networks investment and deploying the critical flexibility technologies to provide security of supply.”
Dogger Bank C has a capacity of 1,200MW and will generate around 6,000GWh a year. In total, Dogger Bank will produce enough clean electricity to supply 5% of the UK’s demand, equivalent to powering six million UK homes.
SSE is leading on construction across all three phases and Equinor will operate the wind farm thereafter.
On 2 November 2021 SSE and Equinor announced the sell down of a combined 20% share in Dogger Bank C to Eni for £140 million ($186 million). Eni will enter the asset effective from financial close of project financing.
Phase three construction is set to ramp up in the New Year further, according to SSE Rewewables, enabling the planned GE blade manufacturing plant in Teesside and a huge number of direct and indirect jobs.