Equinor has entered into an agreement with Eni to sell a 10 per cent interest in the Dogger Bank Wind Farm C project in the UK for a consideration of approximately 70 million (US$93.8 million).
Eni has also entered into an agreement to purchase a 10 per cent 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 between SSE, Equinor, and Eni will be 40 per cent, Equinor 40 per cent, and 20 per cent, respectively.
The partners expect the farm down transaction to close in the first quarter of 2022, subject to regulatory and lenders approvals and customary purchase price adjustments.