The owners of Dogger Bank Wind Farm A & B have closed what is claimed to be the world’s largest offshore wind project financing to date.

SSE Renewables and Equinor announced the landmark £5.5 billion financial deal for the offshore wind farm in the UK, delivered by lenders comprising of 29 banks and three export credit agencies.

The project is being constructed in three 1.2GW phases, with the first two phases being built at the same time to maximise the synergies due to their geographical proximity and make use of common technology and contractors.

The third phase, Dogger Bank C, is being developed on a different timescale with financial close to follow at a later stage.

The offshore wind farm is expected to have a total capacity of 3.6GW and will become the world’s largest project of its kind when operational (from 2023). It will be the first project to use the 13MW GE Haliade-X: largest commercially available turbine in the world. 

When fully completed in 2026, Doggerbank will produce enough renewal energy to supply 5% of the UK’s demand and equivalent to powering six million UK homes each year.

DBA and DBB have already supported the creation of 320 new skilled jobs in the North East of England.