Tuesday, 03 August 2021
The 1.075 GW Seagreen wind farm, a joint venture between UK utility SSE plc, and France’s TotalEnergies (EPA:TTE), intends to hold a tender offering later this year for Corporate Power Purchase Agreements (CPPAs).
The CPPAs will be available to corporate clients willing to buy electricity directly from the offshore wind park in support of their environmental and sustainability targets. Around five to ten tenders would be offered to purchase energy in blocks of 20MW (100GWh p.a.) as part of the Seagreen cPPA. Unlike traditional corporate PPAs, which are normally signed for 10 years or more, Seagreen’s five-year contract is less than half the length of a typical cPPA, giving corporates price certainty and access to zero-carbon energy without a lengthy lock-in.
Seagreen in a statement said
This arrangement overcomes the chief barrier to buying renewable energy directly: the excessively long contract duration, which creates undue risk for businesses in the event of falling energy prices.
Please click here for more information and for registering interest in the upcoming tender.