Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
Home Business SSE and Equinor to proceed with $4 billion Dogger Bank C offshore wind farm
Business

SSE and Equinor to proceed with $4 billion Dogger Bank C offshore wind farm

by maria December 2, 2021
December 2, 2021
gawdo

OSLO (Reuters) – British utility SSE and Norwegian energy company Equinor have secured financing to proceed with the construction of the 3 billion pound ($3.98 billion) Dogger Bank C offshore wind farm in Britain, the companies said on Thursday.

Dogger Bank C will have a capacity of 1,200 megawatts (MW) and generate about 6,000 gigawatt hours (GWh) of electricity a year when completed in 2026, the companies said.

It is the third phase of what the partners say will be the world’s largest offshore wind farm, with installed capacity of 3,600 MW. The companies said this is enough renewable energy to supply 5% of Britain’s demand, equivalent to six million homes.

The financing deal followed news last week that Dogger Bank C had secured long-term power deals with Danish energy trading company Danske Commodities, oil major Shell and utility Centrica.

The total senior debt facilities agreed are for 2.5 billion pounds, plus ancillary facilities of about 0.4 billion pounds, with a group of lenders comprising 28 banks and three export credit agencies, SSE and Equinor said.

“The significant appetite from lenders underpins the attractiveness of UK offshore wind assets,” said Paal Eitrheim, Equinor’s head of renewables.

The two companies have previously agreed to sell a 20% stake in the Dogger Bank C project to Italy’s Eni, which already owns an equal share in the first two phases of Dogger Bank.

Construction of the first two phases is under way after a financing deal in September 2020.

($1 = 0.7528 pounds)

(Reporting by Nora Buli; Editing by Terje Solsvik and David Goodman)

www.gawdo.com
Share on FacebookShare on TwitterShare on Linkedin
0 FacebookTwitterPinterestEmail
previous post
UK’s Serco flags lower 2022 earnings as COVID-19 services wind down
next post
Germany, U.S. agree to new COVID curbs as Omicron spreads across globe

You may also like

EHL partners Emirates to take new hospitality strategy...

June 28, 2022

Celonis and EcoVadis outline sustainable procurement partnership 

June 27, 2022

How can retailers launch an effective marketplace platform?

June 24, 2022
Editorial & Advertiser disclosureEditorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
gawdo.com
https://www.gawdo.com
  • About us
  • Advertising & Terms of Use
  • Contact Us
  • Privacy Policy

@2021 - All Right Reserved.


Back To Top
Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT