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

This chunk of the project, developed with Equinor, costs £6bn

 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 £6bn.

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 £7.5bn 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.

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