Equinor expands partnership with Eni in UK

Equinor has entered into an agreement with Eni to sell a 10% interest in the Dogger Bank Wind Farm C project in the UK. Equinor continues to capture value from the world class offshore wind asset obtaining an equity consideration of around GBP 70 million. Eni has also entered into an agreement to purchase a 10% interest in Dogger Bank C from project partner SSE Renewables on the same terms. Once the transaction is complete, the new overall shareholding in Dogger Bank C will be SSE Renewables (40%), Equinor (40%) and Eni (20%).

Eni will enter the asset effective from financial close of project financing which is expected before end of 2021. The farm down transaction is expected to close in 1Q 2022, subject to regulatory and lenders approvals and customary purchase price adjustments.

Information Source: Read More

Oil and gas, press , | Energy, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar