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World’s largest offshore wind farm achieves first major CfD milestone

6th May 2021 in Press releases, Project news

Dogger Bank Wind Farm is today announcing it has passed the first major CfD milestone with the Low Carbon Contracts Company (LCCC), demonstrating significant progress in the construction of the world’s largest offshore wind farm.

The Milestone Requirement (MR) involves developers demonstrating their commitment to delivering the project by:

  • incurring actual spend equal to 10% of the expected development and construction costs;

or

  • by evidencing project commitments, including that financing is in place for the project and contracts are entered into for the manufacture and installation of material equipment for the generation and export of electricity.

Dogger Bank Wind Farm Project Director, Steve Wilson, said: “We’ve already made significant strides on Dogger Bank Wind Farm including record financing on the first two phases, and securing all tier one contracts for Dogger Bank A and B. And today’s announcement from the LCCC is further evidence that our world-leading development is on track and will deliver renewable energy for 6 million UK households from 2026.”

LCCC Chief Executive, Neil Mc Dermott, said: “Allocation Round 3 projects faced challenges on an unprecedented scale due to the impacts of a Judicial Review, uncertainty around EU Exit, and the global pandemic. I’m incredibly proud to see these projects pass this important milestone and I commend the determination and teamwork that went into achieving it. The projects include some of the world’s largest offshore wind farms to date, so this outcome demonstrates the CfD’s vital role in supporting new low-carbon power projects to secure investment and, ultimately, in developing the ambitious infrastructure we need to power the UK’s transition to Net Zero emissions by 2050.”

Dogger Bank is being built in three equal phases of 1.2 gigawatts (GW) each. The first two phases, Dogger Bank A and B, are a joint venture between Equinor (40%) SSE Renewables (40%) and Eni (20%). The third phase, Dogger Bank C, is being developed on a different timescale and is owned by Equinor (50%) and SSE Renewables (50%).

The three phases of Dogger Bank Wind Farm were among four UK-based developments to achieve the CfD milestone with the LCCC, from the third allocation round.

Visit the LCCC website for further information.