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Norwegian company Equinor invest $8bn in World’s largest offshore wind farm

The Dogger Bank project, located in the British parts of the North Sea, is set to be the biggest offshore wind farm in the world. The Dogger Bank farm is meant to generate 5% of the UK’s power demands and will do so by 2026, Reuter reports.

Norwegian oil giant Equinor has joined forces with SSE to pull this off, with a new investment of 6 billion pounds ($8.03 billion). This is a well-needed green step for the two companies. Especially for Equinor, as its oil production has damaged the environment since its founding in 1972.

— Reaching financial close on the two first phases of Dogger Bank is a major milestone, demonstrating our commitment to profitable growth within offshore wind. The extensive interest from lenders underpins the attractiveness of UK offshore wind assets and confidence in SSE and Equinor. As the wind farm’s future operator, we are proud to take this big step forward in delivering what will be the backbone of a growing wind hub in the North Sea, says Pål Eitrheim, Equinor’s executive vice president of New Energy Solutions.

SSE closed it’s last coal-fired power station earlier this year, in order to meet the UK’s ambitious plans of cutting 68% of their emissions by 2030.

— The UK’s 2030 ambition set out by the Prime Minister is among the most ambitious in the world and we’re excited about working alongside government to deliver it, said SSE’s chief executive, Alistair Phillips-Davies, according to Montelnews.