By Jaime Llinares Taboada

SSE PLC said Friday that ENI SpA has agreed to acquire a 20% stake in the Dogger Bank A and B wind farm project owned by SSE and Equinor ASA.

The FTSE 100 energy company said it has sold a 10% interest to Eni for an equity consideration of 202.5 million pounds ($272.4 million). The Italian group has also entered into an agreement with Equinor to purchase an additional 10%. As a result, Eni will secure a 20% stake in the project, and both SSE and Norway's Equinor will retain a 40% interest each.

The transaction doesn't affect ownership of Dogger Bank C, where both SSE and Equinor continue to have a 50% interest.

SSE and Equinor said on Nov. 26 that they had reached financial close for Dogger Bank A and B. The project, located off the northeastern coast of England, is expected to become the largest offshore wind farm in the world when completed in 2026.

SSE said that it intends to use the proceeds to fund its low-carbon growth plans. As a result of the disposal, the British group has raised its earnings-per-share guidance for the current fiscal year to 85 pence-90 pence from the previous 75 pence-85 pence range.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

12-04-20 0236ET