Seagreen Wind Energy, a joint venture between TotalEnergies and SSE Renewables, will provide corporate purchase power agreements (cPPAs) from the under-construction 1075 MW offshore wind farm off the coast of Scotland. The Seagreen terms considerably decrease the normal cPPA period, giving purchasers an alternative to longer-term cPPAs.
Seagreen’s cPPAs will have contract terms of five years, which the businesses claim will provide corporates with a balance of contract duration flexibility and supply certainty. CPPA contracts are often for 10 years or more. As part of the Seagreen offshore cPPA, businesses will be able to purchase energy in blocks of 20 MW or 100 gigatonnes per year. Tenders for cPPAs will be made available later this year, after the summer as Seagreen will go into service in 2023.
Seagreen has allowed major corporations to purchase sustainable energy that would otherwise be out of their price range. They are developing the offshore cPPA concept to assist energy-intensive enterprises in meeting net-zero objectives conveniently. The short-term offshore cPPA provides corporations with the opportunity to help decarbonize their renewable energy supply through a single contract with a really iconic wind farm. It is also a significant competitive advantage in the year of COP26.
SSE Renewables is an offshore wind energy developer, operator, and owner, providing industry experience to the development of Scotland’s largest offshore wind farm. They are an important offshore wind energy project that is making a genuine difference in helping Scotland and the United Kingdom ‘Build Back Better.’