Seagreen introduces short-term corporate PPAs

Seagreen Wind Energy has announced that it is launching its offshore corporate purchase power agreement (cPPA) offerings. The Seagreen Offshore Wind Farm, due online in 2023, is set to be Scotland’s largest offshore wind farm. The cPPA terms include five-year contract lengths, less than half the typical offshore cPPA length.

Once operational, Seagreen is expected to produce enough electricity to power 1.6 million households – almost every home and business in Edinburgh and Glasgow put together. It will feature 114 turbines, each with a 10 MW capacity, in deep North Sea waters 27 km off the coast of Angus.

The £3 billion project is a joint venture between TotalEnergies and SSE Renewables. As well as being the largest offshore wind farm in Scotland, it will be the world’s deepest fixed-bottom offshore wind array.

Under the offshore cPPAs, businesses will be able to purchase energy in blocks of 20 MW or 100 GWh per annum. Tenders for Seagreen’s offshore cPPAs will be released later in 2021, after the summer.

Damien McSweeney, Finance Director for Seagreen Wind Energy, said: “Seagreen offers an opportunity for large corporates to buy renewable energy that may normally be out of their reach. We are innovating the offshore cPPA model to help energy-intensive businesses to hit net-zero targets with ease and speed.”

Paul Cooley, Director of Capital Projects at SSE Renewables, added: “SSE Renewables is a world-leading developer, operator and owner of offshore wind energy, and is delighted to be able to bring our best-in-class industry knowledge to develop Scotland’s largest offshore wind farm.
“Seagreen is a crucial offshore wind energy project that is having a real impact in helping Scotland and the UK ‘Build Back Better’. The short-term offshore cPPA allows corporates the chance to help decarbonise their renewable energy supplies through one contract with a truly iconic wind farm - a major competitive edge in the year of COP26

Olivier Terneaud, Vice President Offshore Wind at TotalEnergies, said: “Seagreen is a key strategic project and it underlines both our commitment to investing in Scotland and reaching net zero. By becoming a multi-energy company, we aim to address the dual challenge of the energy transition: to supply more energy but with fewer emissions.”

For more information on offshore wind farms worldwide, click here.