UK utility company SSE and Norwegian oil and gas firm Equinor have agreed to invest £6 billion to construct the first two phases of the Dogger Bank offshore wind power project, the two companies said today.
The construction of a total 2.4-gigawatt capacity in the British part of the North Sea will be financed by a group 29 banks and three credit export agencies, they added.
Located over 130km off the northeast coast of England and with a capacity of 3.6GW, Dogger Bank will be the largest offshore wind farm in the world when operational.
The project is being built in three 1.2GW phases, the two companies said.
The first two phases are being constructed at the same time to maximise the synergies resulting from their geographical proximity and make use of common technology and contractors.
The third phase of the project will be developed on a different timescale.
Onshore construction is currently underway for the first two phases of project and onshore and offshore cable and all turbine foundations will be installed by 2023.
First power is expected in Summer 2023 and Summer 2024 for Dogger Bank A and B, respectively, with commercial operations to begin the following year.
Alistair Phillips-Davies, SSE's chief executive, said that the development of Dogger Bank Wind Farm has been 10 years in the making.
"This investment will help drive a green recovery from coronavirus through the project's construction over the next five years, creating jobs and boosting the local economy," the SSE CEO added.
