Vårgrønn, which was founded in 2020 in a joint venture between Hitecvision and Eni, has bought Plenitude’s stake in the world’s biggest offshore wind farm, Dogger Bank. The acquisition includes stakes in all of the wind farm’s three parts, Dogger Bank A, B and C.

”We look forward to a strong cooperation with our experienced partners SSE Renewables and Equinor to construct and operate the world’s largest offshore wind farm. Vårgrønn will actively contribute to the project’s success while Dogger Bank learnings will enrich the skills and experience of the Vårgrønn’s team and make us an even stronger partner in the race for licenses in all our key markets,” says CEO Olav Hetland in a press release.

When Dogger Bank is completed in 2026, it will be the world’s largest offshore wind farm with an overall capacity of 3.6GW. The wind farm is placed in the British part of the North Sea close to the border between Norway, Denmark and the UK.

”The North Sea is an ocean of energy and pivotal in securing energy and driving the green transition in Europe. Dogger Bank A (1.2GW) will be feeding the first power to grid as early as next year,” states Hetland.

Each of Dogger Bank’s three parts has a 1.2GW capacity.

The deal is an adjustment of the ownership relations in Dogger Bank, as Plenitude owns Vårgrøn alongside investment firm Hitecvision. As part of the transaction, Hitecvision increases its equity position from 30.4 to 35%. The rest of the company is owned by Plenitude.

Vårgrøn’s ambition is to own 5GW of offshore wind – either installed or in development – by 2030.

Eni buys stake in Dogger Bank C

GE secures contract on Dogger Bank’s third phase