Baringa Partners LLP are proud to announce it is working as LMA on Dogger Bank A, B and C, the three projects which make up the Dogger Bank offshore wind farm development. Dogger Bank is a large sandbank in a shallow area of the North Sea about 100 kilometres (62 mi) off the east coast of England.
In September 2019, all three wind farms were selected in the Contracts for Difference (CfD) allocation Round 3 by the UK Government.
The projects will have a combined capacity of up to 3.6GW, making Dogger Bank the largest wind farm in the world. The next project milestone is the financial investment decision (FID), which is expected during 2020 for Dogger Bank A and B.
Baringa has been supporting the project as LMA for more than a year and will continue in that comprehensive role on behalf of project owners, SSE Renewables and Equinor.
Olly Cass, Finance Director at Dogger Bank, said: “We appointed Baringa Partners because of their expertise in the UK energy markets and extensive track record in supporting global offshore wind project financings, and look forward to working together on this ground-breaking project. We are looking forward to taking these projects through a successful final investment decision with the joint venture partners and then to financial close.”
Jim Fitzgerald, Director at Baringa Partners, said: “We are delighted to be appointed as LMA on the Dogger Bank offshore wind projects and look forward to supporting them through the financing process. When built, Dogger Bank will provide enough clean, low-carbon energy to power over 4.5 million homes annually, equivalent to around 5% of the UK’s estimated electricity generation and saving 5.6 million tonnes of carbon annually for its 25 year lifetime.”
Ilesh Patel, Global Strategy and Markets Lead – Energy & Resources at Baringa Partners said: “Dogger Bank is a landmark project in the global offshore wind industry. Offshore wind will be a key plank on delivering the energy transition globally, and will continue to be a major investment area for renewable energy across North America, Europe and Asia. We are proud to be supporting the largest offshore wind farm in the world”.