UK energy group SSE Plc (LON:SSE) on Friday confirmed it has established a 50/50 joint venture with Norwegian oil and gas major Statoil ASA (NYSE:STO) for the development of three 1.2-GW offshore wind projects in the Dogger Bank zone.
Through this JV, SSE and Statoil will be developing the Dogger Bank Creyke Beck A, Dogger Bank Creyke Beck B and Dogger Bank Teesside A projects towards financial investment decisions. The zone is located off the east coast of Yorkshire and can host up to 4.8 GW of offshore wind capacity.
The two companies won consents for these projects in 2015 through the Forewind consortium, which also includes Innogy SE (ETR:IGY). The German company left the above-mentioned schemes to SSE and Statoil, while keeping 100% ownership of the 1.2-GW Dogger Bank Teesside B.
The Forewind consortium will no longer be engaged with the Dogger Bank projects, but will oversee the decommissioning of the two met masts and removal of the suction-installed mono bucket foundations later this year, SSE noted.