Shell and Octopus Energy Sign Dogger Bank Power Deal
UK green energy supplier Octopus Energy Group has signed a Power Purchase Agreement (PPA) with Shell Energy Europe to receive energy generated by the Dogger Bank offshore wind farm.
Shell Energy Europe, which has signed agreements to offtake 20 per cent of the energy produced by Dogger Bank, will supply Octopus Energy with up to 2.4 TWh of wind energy each year from the project once it is fully operational in 2026.
This will be enough energy to power around 24 per cent of Octopus’ current customer base or around 800,000 households from as early as 2024.
“If the energy crisis has taught us anything it is that we need to move fast to an energy system based on cheap renewables – and Dogger Bank will help to get us there”, said Matt Bunney, Head of Energy at Octopus Energy Group.
Dogger Bank Wind Farm, currently under construction off the North East coast of England, is a joint venture between SSE Renewables (40 per cent), Equinor (40 per cent), and Vårgrønn (20 per cent).
Once completed, it will be the world’s largest wind farm, generating 3.6 GW of green energy, enough to power roughly six million homes a year.
The project is being built in three 1.2 GW phases known as A, B, and C. A few months ago, the developers of the project unveiled that they are looking into building what would be the fourth part of Dogger Bank Wind Farm.
Surveys were taking place in October at an offshore site where the partners want to develop Dogger Bank D, which would bring Dogger Bank Wind Farm’s total capacity to nearly 5 GW if built.
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