The largest multi-field offshore wind farm in the world, Dogger Bank Wind Farm is moving closer towards generating ‘first power’ this year, with the capacity to supply 5% of the UK’s electricity demand by the time it is completed in 2026. Allianz Global Corporate & Specialty (AGCS) has been on board as lead insurer since its early stages.
This article is part of the
Global Risk Dialogue - 01/2023
Summer 2023 in the UK is expected to see the first phase of the Dogger Bank Wind Farm come into operation, a milestone moment for this immense development under construction off the coast of north-east England.
Situated on a sandbank in the North Sea, Dogger Bank is being built in three phases – A, B and C – and, when completed in 2026, will be the largest offshore wind farm in the world, generating enough electricity to power six million UK homes.
The location for the Dogger Bank Offshore Development Zone extends over 8,660km2 (5,380 square miles) with water depths ranging from 18m to 63m (59-207 feet), making it ideal for fixed-bottom turbine installations. Power will be generated by 277 of one of the world’s most powerful wind turbines, GE’s Haliade-X, and transmitted to shore via subsea cables. Each turbine blade measures 107m long (350 feet), or twice the wingspan of the Angel of the North, the towering contemporary statue that is a familiar sight to anyone traveling by road or rail in this part of the world. A single rotation can power one UK home for more than two days.
A joint venture between SSE Renewables, Equinor and Vårgrønn, the wind farm will have an installed capacity of 3.6GW. First power is expected in summer 2023 and summer 2024 for Dogger Bank A and B respectively, with commercial operations following around six months later, while turbine installation for Dogger Bank C will begin in 2025. AGCS has been lead insurer on Dogger Bank A and B since the projects were placed in late 2020 and also successfully secured the lead position on Dogger Bank C when it was placed in 2022.
Since 2000, the capacity of offshore wind turbines has increased from 2MW to 14MW, with the size of turbines scaling up to dizzy heights and diameters. Recent announcements suggest that 18MW turbines will soon be in production. Components for the Haliade-X wind turbines used at Dogger Bank will be loaded on to the world’s largest specialist heavy-lifting jack-up vessel, the Voltaire, and shipped to the wind farm for installation and commissioning. With a lifting capacity of over 3,000 tonnes and a height of 325m (1,066 feet) at its highest extended point, the Voltaire is one meter, or three feet, taller than the Eiffel Tower, while the Haliade-X is nearly three times taller than the Statue of Liberty.
Dogger Bank D proposal
Recently an exciting new fourth phase of development for the project was proposed by Equinor and SSE Renewables. Early scoping work is exploring two options for Dogger Bank D.
Under proposed plans, the first option would see power connected to an onshore grid connection in Lincolnshire, on England’s east coast, where new network infrastructure is being installed in response to the UK government’s plans to generate 50GW of offshore wind by 2030. The second option would use the electricity produced to generate green hydrogen at an electrolysis facility in the Humber – the UK’s most carbon-intensive industrial region. If permissions are granted, this could become the country’s largest green hydrogen development. The proposal could add 1.32GW in fixed-bottom offshore wind capacity to the wind farm.
“AGCS is a market-leading insurer of global offshore wind projects and our long-standing relationship with the Dogger Bank development demonstrates our support of strategic assets that facilitate the energy transition,” says Adam Reed, Global Leader – Offshore Renewables and Upstream Energy, Energy & Construction, at AGCS. “As part of our commitment to supporting the world’s climate targets through expert underwriting and dedicated specialist risk engineering focused on ESG [environmental, social, and governance] concerns, we are working in close collaboration with our energy clients as we all transition towards net zero. Green hydrogen has exciting potential to propel us on this journey because it is created using renewable energy and produces only water when burned. It therefore represents a possible solution for decarbonizing ‘hard-to-abate’ carbon-intensive sectors like heavy industry and transport. We are eagerly awaiting the outcome of these latest proposals for Dogger Bank D.”
Monuments in size and scale
Source: Dogger Bank Wind Farm
Images: Dogger Bank windfarm
The material contained in this publication is designed to provide general information only. Projections are inherently subject to substantial and numerous uncertainties and changes. Inevitably, some assumptions will not materialize, and unanticipated events and circumstances may affect the projections made in this publication. While every effort has been made to ensure that the information provided is accurate, this information is provided without any representation or warranty of any kind about its accuracy and Allianz Global Corporate & Specialty SE cannot be held responsible for any mistakes or omissions.
All the latest news, reports and hot topics
Newsletter
Keep up to date on all news and insights from AGCS
Allianz Group companies
The Allianz Group offers a wide range of products, services, and solutions in insurance and asset management and operates as an international insurer on almost every continent.
AGCS offices
With our worldwide network, Allianz Global Corporate & Specialty (AGCS) is one of the very few global insurers with an exclusive focus on the needs of global corporate and specialty clients.