Latest News

SSE achieves financial close for two-thirds of world’s largest wind farm


SSE PLC (LON:SSE) said it has achieved financial close for the first two phases of the world’s largest wind farm, developed with Norwegian energy firm Equinor, which will cost GBP6bn.

The pair are developing Dogger Bank Wind Farm, a project off the northeast coast of England, as a 50:50 joint venture.

READ: SSE PLC reports lower coronavirus hit than expected

Once all three phases are completed in March 2026, it will be the largest wind farm in the world as each phase has a capacity of 1,200 megawatts and will generate around 6,000 gigawatts per hour.

In total, Dogger Bank will produce enough renewable electricity to supply 5% of the UK’s demand, equivalent to powering six million UK homes.

SSE said that funding of the development of Dogger Bank A and B represents the largest ever offshore wind project financing anywhere in the world.

The FTSE 100 group’s expected equity investment forms part of its GBP7.5bn investment programme to March 2025, which also aims at doubling its renewables output in the next five years.

The electricity provider is also leading the construction of Seagreen offshore wind farm, in which it owns 49%, as well as the wholly-owned onshore Viking wind farm, both located in Scotland.

Oakley Capital Investments offers retail investors access to unique private equity network

Previous article

Aviva plans to cut dividend by a third and grow from there

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News