Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Final investment decision (FID) on the Sheringham Shoal Extension (SEP) is the development-stage milestone at which Equinor (currently 100% owner, with Equitix Offshore 3 and Macquarie Asset Management holding options to acquire a combined 60% at FID) commits capital to construction. FID typically gates on a route-to-market commitment such as a UK CfD allocation-round award. SEP/DEP were eligible for AR7 (results announced 14 January 2026) but did not appear among the AR7 winners. Per Equinor's published 'Reset, Scale, Deliver' position from June 2025, the project remains in the shovel-ready cohort intended to contribute toward UK offshore wind targets. The 2027 FID target reflects assumed entry into AR8 (currently in DESNZ consultation, with the results window expected late 2026 / early 2027) followed by a typical 6-9 month FID-after-CfD-award gap. Date is an analyst projection on cohort timing and will be superseded by any developer or regulator schedule restatement.