Britain's SSE today unveiled plans to hike its stake in the Dogger Bank offshore wind farm to 37.5 per cent.
SSE and Norway's Statoil both bought 12.5 per cent stakes in the development from former consortium partner Statkraft, taking their total shares to 37.5 per cent each. Innogy, the subsidiary of Germany's RWE, continues to own the other 25 per cent.
Mike Seaton, SSE's director of wholesale development said: "This acquisition represents the next step in the development of the Dogger Bank offshore wind development. SSE will continue to work alongside the remaining partners in the Forewind consortium to progress these projects."
The Dogger Bank development is comprised of four projects developed by the Forewind consortium which were granted planning permission during 2015. It is located in the North Sea off the east coast of England and will have the potential of generating capacity of up to 4.8 gigawatts.
According to Forewind, that number is equivalent to almost five per cent of the UK's projected electricity requirements, and Dogger Bank is likely to be the world’s largest offshore wind project.
SSE announced in a January trading update that renewable energy production was down 20 per cent in the third quarter due to still, dry weather.