Statkraft inks PPA for Seagreen

In: Windfarms
08/07/2020
Statkraft has entered into a long-term Power Purchase Agreement with Seagreen Wind Energy Limited to purchase 50% of the output from the project.

The
Seagreen offshore wind farm is a 1,075 MW project is located 27 km off the Angus Coast in the Firth of Forth, off the coast of Scotland and will be developed and operated by Seagreen Wind Energy Limited. Once constructed, the wind farm will be the largest in Scotland and Phase One is expected to provide low carbon energy for around one million homes.

In September 2019, Seagreen secured a 15-year CfD contract awarded by the UK. SSE Renewables is leading on the development and construction of the first 1,140 MW phase, supported by Total, and will operate the asset on completion, which is expected in 2022/23. The project will feature 114 MHI Vestas
V164-10 MW turbines.

John Puddephatt, Head of Long Term PPA Origination at Statkraft, said: “once operational this PPA for 50% of the output from Seagreen will become the largest in our UK PPA portfolio, substantially increasing upon the 10TWhs currently under contract. We wish Seagreen well during the construction phase and look forward to working with them for many years to come.”

Mark Timmons, Offshore Bid Manager at Seagreen Wind Energy Limited, said: “as part of our project financing we required an off-taker with a strong credit rating and the ability to purchase a substantial amount of power on a long term basis. Statkraft were well suited to this role.”  


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