Equinor completes farm down of wind assets to Eni

Norway’s Equinor has closed the agreement to sell a 10 percent interest in Dogger Bank A and Dogger Bank B assets off the UK to Italy’s Eni.

As part of this transaction Eni has also completed the agreement to purchase a 10 percent interest in the Dogger Bank A and Dogger Bank B assets from project partner SSE on the same terms.

Following this transaction, the new overall shareholding in Dogger Bank A and Dogger Bank B is SSE Renewables (40 percent), Equinor (40 percent) and Eni (20 percent).

Eni entered the Dogger Bank A and B assets effective from financial close of project financing which was reached on 25 November 2020. The total consideration received at closing is £206.4 million.

The A and B phases of the Dogger Bank Wind Farm reached financial close at competitive terms underlining the attractiveness of the UK offshore wind assets and the confidence in the joint venture.

The third phase of the wind farm, Dogger Bank C (1,200 MW), is being developed under a different timeline. There is no change to the ownership of this phase, in which Equinor and SSE each have a 50 percent stake.