Vårgrønn, a Norwegian offshore wind company, has finalised the acquisition of Plenitude’s stake in the 3.6 GW Dogger Bank offshore wind farm in the UK. Vårgrønn is a joint venture between HitecVision, a Norwegian energy investor, and Plenitude, Eni’s energy transition division. The agreement, which was first announced in June of this year, gave Vårgrønn a 20 per cent share in the Dogger Bank offshore wind farm. Dogger Bank, which reportedly consists of three phases, is the world’s largest offshore wind farm. The project is anticipated to be finished in 2026 and will have the ability to power six million homes in the region.
In July 2022, Plenitude and HitecVision signed an agreement to expand their Norwegian renewable energy joint venture, Vårgrønn. Vårgrønn would be transformed into a tangible, full-cycle offshore wind player by the partners. The JV intends to have a total installed and sanctioned offshore wind capacity of 5GW by 2030, with a primary focus on markets in Northern Europe.