Norwegian energy giant Equinor has announced that its joint bid with SSE Renewables to develop a huge 3.6 gigawatt (GW) offshore wind project in the Southern North Sea.
The Dogger Bank Offshore Wind Farm was today successful in its UK Contracts for Difference (CfD) auction to win a UK Government contract.
The development could produce enough energy to power the equivalent of 4.5 million UK homes.
Dogger Bank will consist of three projects, Creyke Beck A, Creyke Beck B and Teesside A.
The contracts offer a fixed price for the first 15 years of operation, providing the projects with a long-term predictable revenue stream.
Eldar Saetre, chief executive of Equinor, said: “The successful bids for the world’s largest offshore wind development represent a game-changer for our offshore wind business and support the development of Equinor as a broad energy company.
“A full-scale development of Dogger Bank will constitute an industrial wind hub in the heart of the North Sea, playing a major role in the UK’s ambitions for offshore wind and supporting the net zero ambition.
“Excellent wind speeds, shallow waters and scale make Dogger Bank well positioned to deliver low cost renewable electricity to UK homes and businesses.”
The Dogger Bank project is estimated to trigger a total capital investment of £9 billion between 2020 and 2026.
Jim Smith, managing director of SSE Renewables, said he was “thrilled” with the result.
He added: “Reaching this point has been a culmination of over 10 years of development and it is very exciting to work with Equinor on taking the project forward.
“We’re confident our wealth of offshore wind experience will enable us to deliver these unique projects.”