echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > International Chemical > Italy's Erni acquires a 20% stake in Dogger Bank's offshore wind farm

    Italy's Erni acquires a 20% stake in Dogger Bank's offshore wind farm

    • Last Update: 2023-01-03
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Italian oil and gas company Erni has announced that it has acquired a 20% stake
    in the 2.
    4 GW Dogger Bank offshore wind project in the UK.

    Specifically, according to project developers SSE Renewables and Norway's Equinor, it has completed two transactions to sell 10% of the 1.
    2 GW Dogger Bank A project and the 1.
    2 GW Dogger Bank B project to Italy's Eni Energy
    , respectively.

    With this deal, SSE and Equinor will reduce their respective interests in the project to 40%.

    Meanwhile, they still retain their 50% stake in the 1.
    2 GW Dogger Bank Phase C, which is currently under development
    .

    Each phase of the Dogger Bank offshore wind project was awarded by the UK government in a contract at a contract
    for difference (CfD) auction in 2019.
    The total cost of building the two wind farms acquired by Eni is estimated at £6 billion ($8.
    4 billion).

    It is reported that Italy's Eni Group will acquire a 20% stake
    in the Dogger Bank offshore wind farm project for a total of £405 million.
    Upon completion of the transaction, SSE and Equinor will each hold 40 percent of the shares, while Eni will own the remaining 20 percent
    .

    According to previous announcements, the Dogger Bank A offshore wind farm and the Dogger Bank B offshore wind farm will be completed
    in 2023 and 2024, respectively.

    Eni CEO Claudio Descalzi said in a statement: "For Eni, entering the Nordic offshore wind market is an important opportunity
    to work with two leading companies in the sector.

    The Dogger Bank C project on England's northeast coast is expected to add another 1.
    2 GW of capacity by 2026, making it the world's largest offshore wind farm, generating enough electricity to meet 5% of the UK's demand, equivalent to powering 6 million homes a year, to help the company meet its climate goals
    .

    The UK is already the world's largest offshore wind market and plans to increase installed capacity to 40 GW by 2030 from the current 10 GW
    .

    Like many other oil majors, Eni plans to significantly increase its renewable power generation to reduce its reliance on fossil fuels and meet internal climate goals
    .

    To that end, it will reduce oil and gas inputs while building a clean energy portfolio
    that includes renewable energy, biorefineries and carbon capture projects.

    ENI aims to reduce its greenhouse gas emissions by 80% by 2050 and plans to have more than 55 GW of renewable energy capacity
    by 2050.

    Italian oil and gas company Erni has announced that it has acquired a 20% stake
    in the 2.
    4 GW Dogger Bank offshore wind project in the UK.

    Offshore wind

    Specifically, according to project developers SSE Renewables and Norway's Equinor, it has completed two transactions to sell 10% of the 1.
    2 GW Dogger Bank A project and the 1.
    2 GW Dogger Bank B project to Italy's Eni Energy
    , respectively.

    With this deal, SSE and Equinor will reduce their respective interests in the project to 40%.

    Meanwhile, they still retain their 50% stake in the 1.
    2 GW Dogger Bank Phase C, which is currently under development
    .

    Each phase of the Dogger Bank offshore wind project was awarded by the UK government in a contract at a contract
    for difference (CfD) auction in 2019.
    The total cost of building the two wind farms acquired by Eni is estimated at £6 billion ($8.
    4 billion).

    It is reported that Italy's Eni Group will acquire a 20% stake
    in the Dogger Bank offshore wind farm project for a total of £405 million.
    Upon completion of the transaction, SSE and Equinor will each hold 40 percent of the shares, while Eni will own the remaining 20 percent
    .

    According to previous announcements, the Dogger Bank A offshore wind farm and the Dogger Bank B offshore wind farm will be completed
    in 2023 and 2024, respectively.

    Eni CEO Claudio Descalzi said in a statement: "For Eni, entering the Nordic offshore wind market is an important opportunity
    to work with two leading companies in the sector.

    The Dogger Bank C project on England's northeast coast is expected to add another 1.
    2 GW of capacity by 2026, making it the world's largest offshore wind farm, generating enough electricity to meet 5% of the UK's demand, equivalent to powering 6 million homes a year, to help the company meet its climate goals
    .

    The UK is already the world's largest offshore wind market and plans to increase installed capacity to 40 GW by 2030 from the current 10 GW
    .

    Like many other oil majors, Eni plans to significantly increase its renewable power generation to reduce its reliance on fossil fuels and meet internal climate goals
    .

    To that end, it will reduce oil and gas inputs while building a clean energy portfolio
    that includes renewable energy, biorefineries and carbon capture projects.

    ENI aims to reduce its greenhouse gas emissions by 80% by 2050 and plans to have more than 55 GW of renewable energy capacity
    by 2050.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.