The developers of the 1075MW Seagreen 1 Seagreen 1 (1075MW) OffshoreFirth of Forth, UK, Europe Click to see full details offshore wind farm will offer shorter-term corporate power purchase agreements (cPPAs), offering an “alternative option” to standard long-term PPAs.
Corporates will be able to buy energy from Seagreen in blocks of 20MW or 100GWh/year under five-year contracts, offering purchasers “a balance of contract duration flexibility with surety of supply”, development company Seagreen Wind Energy explained. This contrasts with the typical PPA duration of ten or more years.
Seagreen is due to be Scotland’s largest wind farm when it becomes operational in 2023.
Developers SSE Renewables and TotalEnergies are due to release tenders for Seagreen PPAs later this year.
“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,” said Damien McSweeney, finance director for Seagreen Wind Energy.
The £3 billion (€3.5 billion) joint venture project between TotalEnergies and SSE Renewables will install 114 Vestas V164-10MW turbines in waters 27km off the coast of Angus in the North Sea. It will be the world’s deepest fixed-bottom offshore wind farm.
SSE Renewables is leading the development and construction of the joint venture project, and will operate Seagreen on completion.
French oil giant Total, which has since rebranded as TotalEnergies, took a 51% stake in Seagreen in June 2020.