The three shareholders of the offshore wind consortium Forewind have agreed upon and signed the ownership arrangements for four consented Dogger Bank offshore wind projects, which will generate a combined 4.8GW of power.

Forewind secured approval to develop the Dogger Bank project in 2015, which will be situated in the North Sea, England, UK, and will feature four individual 1.2GW developments.

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The new arrangement will see Forewind shareholders SSE and Statoil each own 50% of the three projects, Dogger Bank Creyke Beck A, Dogger Bank Creyke Beck B and Dogger Bank Teesside A.

Dogger Bank Teesside B is to be fully owned by the other Forewind shareholder, innogy.

The ownership agreements have also allowed the Dogger Bank project to obtain financial investment decisions from their respective owners.

"We will now develop the Dogger Bank Teesside B offshore wind project in line with our current pipeline as we seek to deliver on our renewable energy growth ambitions."

Forewind consortium will no longer be a part of the Dogger Bank projects, but will oversee the decommissioning of the two met masts and removal of the suction-installed mono bucket foundations later this year.

innogy Offshore Wind director Paul Cowling said: “The Forewind consortium has completed its job of achieving planning permission, and this is great news for innogy.

“We will now develop the Dogger Bank Teesside B offshore wind project in line with our current pipeline as we seek to deliver on our renewable energy growth ambitions, actively shaping the energy world of the future.”

innogy’s 1.2GWshare in the Dogger Bank project will be double the size of world’s largest existing offshore wind farm once completed.

The remaining three SSE and Statoil projects generate a combined total of 3.6GW energy.

The Dogger Bank projects are expected to provide renewable energy for up to five million UK homes.