Statkraft to Buy Seagreen Electricity

Statkraft has signed a long-term power purchase agreement (PPA) to purchase 50% of the output from the 1,075 MW Seagreen offshore wind project in Scotland.

Statkraft said that the deal is the largest in its UK PPA portfolio, which now stands at 10TWhs.

“As part of our project financing we required an off-taker with a strong credit rating and the ability to purchase a substantial amount of power on a long term basis. Statkraft were well suited to this role,” said Mark Timmons, Offshore Bid Manager at Seagreen Wind Energy Limited.

Once completed, Seagreen will become Scotland’s largest wind farm, featuring 114 MHI Vestas 10 MW turbines.

It is owned by Total, who holds 51%, and SSE Renewables, holding 49% and leading the development and construction of the project.

The offshore wind farm is expected to be fully operational in 2022/23.