DOGGERBANK OFFSHORE WIND FARM PROJECT 1 PROJCO LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. DOGGERBANK OFFSHORE WIND FARM PROJECT 1 PROJCO LIMITED 2017-08-29 → present
2. DOGGERBANK PROJECT 1 BIZCO LIMITED 2011-09-29 → 2017-08-29

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Ernst and Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis which assumes adequate resources will be available over the going concern assessment period covering 12 months from approval of the financial statements to 31 March 2027. The Directors have concluded that the Company has sufficient resources to continue as a going concern over the going concern assessment period to 31 March 2027 and the financial statements have therefore been prepared on a going concern basis.”

Group structure

1. DOGGERBANK OFFSHORE WIND FARM PROJECT 1 PROJCO LIMITED · parent
   1. DB Operational Base Limited* 33.3% · United Kingdom · cover all contracts and maintenance operations related to the Dogger Bank projects through its operations base

Significant events

• “In September 2019 the UK government announced that the project had been successful in winning Contracts for Difference (CfD) for its entire forecast output of 1,200MW. In January 2020 onshore construction works began”
• “Through achieving Financial Close in November 2020, the project was also able to satisfy its Milestone Requirement under its CfD Agreement.”
• “Construction of the operations base was completed in 2023.”
• “The offshore converter station was successfully installed in April 2023 and energised in advance of first power which was achieved in October 2023.”
• “Inter- array cable installation which was completed in July 2024.”
• “Commissioning on the installed turbines is ongoing and is expected to be substantially complete by the end of 2026.”
• “In March 2026 the Company disposed of interest rate swap hedging equal to 15% of the interest rate swaps which are held to hedge the floating interest rate on generation senior debt facilities.”
• “The disposal resulted in net proceeds of £40.7m after the deduction of transaction costs. New interest rate swaps were placed in March 2026 to hedge exposure to floating rate of interest on generation senior debt facilities for the period from March 2026 to December 2028.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

17

last 12 months

Capital events

9

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +2,860%

  £500,000 → £14,800,000

• Cash

  -30.6%

  £87,300,000 → £60,600,000

• Net assets

  +32.7%

  £444,700,000 → £590,200,000

• Employees

  —

  Not reported

• Operating profit

  +303.7%

  -£2,700,000 → £5,500,000

• Profit before tax

  +288%

  -£2,500,000 → £4,700,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers