Statoil and SSE Boost Dogger Bank Shares as Statkraft Pulls Out

  • Business & Finance

Scottish energy company SSE and Norway’s Statoil have increased their shares in the Dogger Bank offshore wind development after the companies acquired and equally divided a 25% stake previously held by former consortium partner Statkraft.

The latest acquisition takes SSE’s and Statoil’s shares in the project to 37.5%, respectively. Innogy controls the remaining 25% share in the project.

The Dogger Bank offshore wind development comprises four projects developed by the Forewind consortium which were granted planning permission during 2015.

The projects are located in the North Sea off the east coast of England and the wind farms have a potential generating capacity of up to 4,800MW.

Mike Seaton, Director of Development (Wholesale) SSE said: “This acquisition represents the next step in the development of the Dogger Bank Offshore Wind development, SSE will continue to work alongside the remaining partners in the Forewind consortium to progress these projects.”

The sale is part of Statkraft’s strategy to divest all of its offshore wind assets, including its shares in the operating Sheringham Shoal offshore wind farm and the Dudgeon offshore wind farm, currently under construction.

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