LONDON – Bracewell (UK) LLP represented Eni in its agreement to acquire a 20 percent interest in the Dogger Bank (A and B) 2.4 GW offshore wind farm project from Equinor and SSE.
The transaction supports Eni in reaching its target of 5 GW installed renewable energy capacity by 2025 and marks Eni’s entry into the North European offshore wind market. The construction costs of the Dogger Bank (A and B) project are expected to reach £6 billion, with completion of Dogger Bank A expected in 2023 and Dogger Bank B in 2024. At full capacity, the Dogger Bank project will be the world’s largest offshore wind farm.
“We are delighted to have supported Eni on this landmark transaction that helps it towards its renewables targets,” said Darren Spalding, who led the Bracewell team. “The deal caps a remarkable and standout year for our renewables practice, having advised on the first renewables projects in Armenia and Qatar, Tesla’s largest battery storage project in the UK, Equinor’s sale of a stake in the Empire and Beacon offshore wind farm projects to BP and now the winning bidder on the Dogger Bank sale process.”
Bracewell lawyers involved in the transaction include:
Partners: Darren Spalding, Oliver Irwin, Tom Swarbrick and Andrej Kormuth
Associates: Lauren Kelsall, Benjamin Pridgeon and Adam Quigley