Wind energy – purchase agreement
Scottish wind farm operator Seagreen Wind Energy has launched a new corporate power purchase agreement (CPPA) with a five-year contract length as an alternative to the more typical ten-year CPPAs.
With a five-year contract length, it offers corporates a balance of contract duration flexibility with surety of supply.
The £3 billion Seagreen Offshore Wind Farm will be operational in 2023 and will be able to produce enough low-carbon electricity to power 1.6 million homes or the equivalent of almost every home and business in Edinburgh and Glasgow combined.
The joint venture project between TotalEnergies and SSE Renewables will have 114 10MW turbines in the waters 27km off the coast of Angus in the North Sea, and will be the world’s deepest fixed-bottom offshore wind farm.
Damien McSweeney (pictured), 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.”