DOGGERBANK OFFSHORE WIND FARM PROJECT 2 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 2 PROJCO LIMITED 2017-08-29 → present
2. DOGGERBANK PROJECT 4 BIZCO LIMITED 2012-01-18 → 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 for the 12-month period following approval of the financial statements. In performing their assessment, the Directors have considered the future financial plans of the Company and its ability to access necessary funding. Within the assessment period the Company is expected to complete construction of the wind farm and transition towards full commercial operations. The Directors assessment has considered the funding required over this period. Prior to full commercial operations revenue earned in the period will be used to partially fund construction costs. Construction costs are also funded by the senior debt facilities with external lenders. The remainder of the funding required to construct the wind farm has been committed by the shareholders. The committed funding total includes standby debt and equity to ensure the Company has access to committed funds in the event of construction cost over-runs. When the Company enters full commercial operations, operational costs will be funded through operational revenues. The directors have assessed sensitivity to future cashflows and have conclude that the Company has sufficient headroom. Sensitivity analysis includes the impact on capital expenditure and operational revenues and costs under a theoretical scenario whereby the remaining construction schedule is delayed. The Directors have concluded that the Company has sufficient resources to continue as a going concern and the financial statements have therefore been prepared on a going concern basis.”

Group structure

1. DOGGERBANK OFFSHORE WIND FARM PROJECT 2 PROJCO LIMITED · parent
   1. DB Operational Base Limited 33.33% · United Kingdom

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... The focus of the Company during the year to 31 March 2025 was to continue with the construction works... The offshore converter station was successfully installed in April 2024. The project is scheduled to be fully operational in 2026.”

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

Filings

19

last 12 months

Capital events

10

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

  —

  Not reported

• Cash

  +38.1%

  £57,000,000 → £78,700,000

• Net assets

  -6.6%

  £294,000,000 → £274,500,000

• Employees

  —

  Not reported

• Profit before tax

  +33.3%

  £300,000 → £400,000

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