EQNR - Equinor SSE to invest $8B in world's largest offshore wind farm

Equinor (EQNR) and U.K. utility SSE (SSEZY) announce the completion of a deal to finance construction of the first two phases of the Dogger Bank wind power project off the northeast coast of England.Funding for the first two phases of "the largest ever offshore wind project financing anywhere in the world" will total £6B (~$8B), the companies say.The first two phases, Dogger Bank A and Dogger Bank B, will be built simultaneously, with each having a capacity of 1.2 GW, and the third phase of the project will be developed on a different schedule, with a financial close expected toward the end of 2021.By the anticipated completion in 2026, Dogger Bank would produce enough electricity to supply 5% of U.K. demand, equivalent to powering 6M British homes each year.Equinor is "slowly shifting its strategy to a more 'friendly' energy future... committing real capex in the renewable segment," Fun Trading noted

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Equinor, SSE to invest $8B in world's largest offshore wind farm