Statoil has signed a swap agreement with Innogy and SSE for equity interests in the Dogger Bank offshore wind development project.
The Dogger Bank development consists four offshore wind farm projects, Creyke Beck A and B and Teesside A and B. Following the transaction, Statoil and SSE will own 50% each in Creyke Beck A and B and Teesside A, while Innogy will own 100% of Teesside B.
Dogger Bank is the world’s largest offshore wind development, having achieved consent for an agreed target installed capacity of 4.8 GW, with 1.2 GW consented for each of the four projects. In total, the Dogger Bank projects have the potential to provide renewable energy to up to 5 million UK homes.