Greening of UK power system gathers pace

Lenders back phase three of £9bn Dogger Bank offshore windfarm, and power distributor proposes £4bn clean energy overhaul

Funding for the world’s biggest offshore windfarm at Dogger Bank off England’s northeast coast is complete after Norwegian state-owned Equinor and UK utility SSE Renewables secured nearly £3bn ($3.98bn) for the project’s third and final phase. Phase three will have a capacity of 1.2GW, bringing the project’s total capacity to 3.6GW— meaning it will be the world’s largest offshore windfarm when completed in 2026, with a total investment of £9bn. The IEA this week flagged inflationary pressures from rising commodities prices as a potential drag on the renewables sector’s growth if high prices persist through 2022. Despite these headwinds, the financing terms achieved for Dogger Bank C are some