Engie and Centrica have signed 15-year power purchase agreements for electricity from the 950MW Moray East offshore wind farm off the coast of Scotland.
Centrica’s energy marketing and trading arm will trade and balance 76.7% of the output from the project when it starts commercial operations in 2022.
The contract covers all balance responsible party services and the trading of the power generated in the UK day-ahead market, Centrica said.
Centrica co-managing director for energy marketing and trading Cassim Mangerah said: “We are excited to have secured the PPA for the Moray East wind farm."
The contract represents another milestone for our route-to-market business and is a testament to the level of sophistication and capability we have built.
“The deal re-affirms our commitment to the development of renewable infrastructure projects and demonstrates further progress in this growth area of our business.”
The deal with Engie covers the remaining 23.3% of the electricity generated by Moray East.
Engie also holds a 23.3% stake in the project, with EDPR owning the remainder.
Engie UK divisional chief executive David Alcock said: “We’re pleased to have secured this PPA for Moray East which strengthens our offer of delivering renewably sourced energy to UK B2B and domestic consumers."
This agreement allows Engie to be uniquely involved in the project – contributing to both the development of the wind farm as well as the offtake of renewable energy produced.
Moray East is a key asset in the UK’s move to lower carbon energy production: the PPA further demonstrates Engie’s ability to provide integrated energy solutions whilst playing an important role in the nation’s transition to renewable generation.
Moray East project director Oscar Diaz said: “Moray East is a landmark project for the offshore wind industry, delivering sustainable, renewable generation at a highly competitive power price."
This PPA brings high-capacity, low cost, low-carbon power generation to the UK wholesale market on a long-term contract with associated stability for the entire CfD period.
Moray East will feature 100 MHI Vestas V164-9.5MW turbines.
Source:renews
