LONDON (ShareCast) - (Sharecast News) - SSE has agreed to sell 10% of Dogger Bank C to Eni for £70m to bring ownership of the windfarm's third phase into line with the wider project.
Equinor, SSE's partner in the project, has also sold 10% to Eni, the Italian oil and gas company. The deal is predicted to complete by the second quarter of 2022.

When the transaction completes, SSE and Equinor will each own 40% of Dogger C and Eni will own 20%. SSE, the FTSE 100 energy group, will continue to lead on the development and construction of Dogger Bank and Equinor will operate it on completion.

Dogger Bank, based off England's northeast coast, will be the largest offshore windfarm in the world when it completes in 2026. The project is so big that it has been split into three phases - A, B and C - and Eni owns 20% of the first two stages.

"A consistent combination of equity partners across all three phases of the project will enable further synergies across both the construction and operations phase of the Dogger Bank wind farm," SSE said. SSE said it would use the proceeds of the sale for its own net zero strategy.

SSE shares dipped 0.6% to £16.54 at 10:38 GMT.

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