2nd Dec 2021 09:27
(Alliance News) - SSE PLC on Thursday said subsidiary SSE Renewables, together with its joint venture partner Equinor, reached financial close on Dogger Bank C, the third phase of its wind farm project.
The Perth, Scotland-based renewable energy firm's subsidiary and the Stavanger, Norway-based energy company are currently constructing the first two phases of the Dogger Bank Wind Farm.
The farm is located off the northeast coast of England and once all three phases are completed Dogger Bank is expected to be the world's largest offshore farm.
SSE stated that Dogger Bank C has a capacity of 1,200 megawatts and will generate around 6,000-gigawatt-hours a year.
The wind farm is currently the largest SSE Renewables project in construction.
Total investment in the offshore wind farm is expected to be around GBP9 billion.
About GBP3 billion is expected to be for phase C including offshore transmission.
SSE's share of investment in the project is part of its recent net-zero acceleration plan, which included fully funded GBP12.5 billion strategic capital investment plans to 2026.
The company is leading the construction across all three phases and Equinor will operate the wind farm thereafter.
"Our plans will enable delivery of over 25% of UK's 2030 40 gigawatts 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," Chief Executive Alistair Philips-Davies said.
He added: "Construction is well underway on the first two phases of Dogger Bank with work on the third phase already progressing and we look forward to this ramping up in the New Year."
Shares were down 1.0% at 1,567.37 pence each on Thursday morning in London.
By Abby Amoakuh; [email protected]
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