SSE and Equinor are set to join forces to invest £6 billion (€6.7 billion) for the first two phases of Britain's proposed Dogger Bank wind farm in the North Sea.
Dogger Bank
When finished, the project will be the world's largest offshore wind farm investment, according to a statement released by SSE.
The farm is being developed by the Forewind consortium, of which SSE form a part of, and is set to have a capacity of 2.4 gigawatts.
The farm is located 125 to 290 kilometres off the coast of Yorkshire on the Dogger Bank sandbank - a natural shallow in the North Sea owing to the last glacial period.
In a statement, SSE said: “This investment will help drive a green recovery from coronavirus through the project’s construction over the next five years, creating jobs and boosting the local economy.”
The first two phases of the project are currently under construction, with a third phase being planned for 2026, by which point the Dogger Bank farm will be producing around 5% of all of Britain's electricity - roughly 6 million homes annually.
The British government have already made plans and investments to ensure that 100% of the UK's electricity needs are covered by offshore wind power by 2030. They hope to quadruple output to 40GW annually by the same timeframe.
The government has already pledged £160 million (€175.7 million) in making Britain a global leader in renewable energy by 2050.
Last year, the Dogger Bank project won government financial support and on Tuesday is signed an energy deal with several buyers.
Equinor has also pledged to be cut its greenhouse emissions entirely by 2050 and has been increasingly investing in offshore wind in the US and Europe.
SSE also plans to funnel £7.5 billion (€8.4 billion) into low-carbon projects over the next five years.
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