Dogger Bank Offshore Wind Farm’s Third Phase Financing

In UK Linklaters, advised on the matter.

Linklaters advised Equinor – Equinor Ventures, SSE Renewables with a team including Richard Coar (Picture – Project), Francesca Matthews (Project), John Pickett (Project).

Dogger Bank C is the third phase of the Dogger Bank Offshore Wind Farm, owned by joint venture partners SSE Renewables and Equinor. The Dogger Bank Offshore Wind Farm will be the largest offshore wind farm in the world once all three phases are complete in March 2026.

The debt financing for Dogger Bank C, which reached financial close today, is being provided by 28 banks and three export credit agencies, namely Bpifrance, EKN, The Swedish Export Credit Agency and Export Finance Norway (Eksfin).

Dogger Bank C has a capacity of 1,200MW and will generate around 6TWh. In total, Dogger Bank will produce enough clean, renewable electricity to supply 5% of the UK’s demand, equivalent to powering six million UK homes. The total capex for Dogger Bank C is around £3bn.

On 2 November 2021 SSE and Equinor announced the sell down of a combined 20% share in Dogger Bank C to Eni (10% each) for a total consideration of £140m, on which Linklaters also advised.

The Linklaters team was led by partners Richard Coar (Picture), John Pickett and Francesca Matthews. Key team members included managing associate Albert Yu and associates Anthony Tridgell, Joowon Lee and Carina Chan.

Involved fees earner: Carina Chan – Linklaters; Richard Coar – Linklaters; Joowon Lee – Linklaters; Francesca Matthews – Linklaters; John Pickett – Linklaters; Anthony Tridgell – Linklaters; Albert Yu – Linklaters;

Law Firms: Linklaters;

Clients: Equinor – Equinor Ventures; SSE Renewables;

Author: Giulia Di Palma