SSEZY - Shell strikes deal to buy power from world's largest offshore wind farm

Royal Dutch Shell (RDS.A, RDS.B) says it signed a 15-year power purchase agreement for electricity from Dogger Bank, which will be located off the coast of northeast England and become the world's largest offshore wind farm; financial terms are not disclosed. The deal includes a 20% power share from the third phase of Dogger Bank, or Dogger Bank C, with each phase designed for a capacity of 1.2 GW. Including existing agreements for Dogger Bank A and B, Shell has now secured 720 MW of the wind farm's anticipated capacity of 3.6 GW. Dogger Bank C also agrees to 15-year power purchase deals with Centrica Energy, SSE Energy and Danske Commodities. Construction of Dogger Bank, which is owned by SSE (OTCPK:SSEZY), Equinor (NYSE:EQNR) and Eni (NYSE:E), is expected to be completed in 2026. Shell recently agreed to buy a majority stake in the Western Star floating wind project offshore Ireland.

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Shell strikes deal to buy power from world's largest offshore wind farm