Centrica to trade and balance power produced by 950 MW Moray East offshore wind farm
This article is part of a daily series of IPP articles. If you want to know more about the latest power generation projects globally visit our IPP Today section. You can receive them by email on a daily basis.
Centrica plc has announced that it has entered into a long-term contract to trade and balance 76.7% of the electricity generated from the 950 MW Moray East offshore wind farm.
The company's Energy Marketing and Trading division has signed a Power Purchase Agreement (PPA) that covers all Balance Responsible Party (BRP) services and the trading of the power generated in the UK day-ahead market.
The PPA contract is for a 15-year period starting from commercial operation which is scheduled for 2022.
The wind farm is to be developed 22km from the east coast of Scotland and will have an annual production equaling the average electricity requirements of approximately 950,000 UK homes.
Moray East is currently owned by EDPR (33.3%), Diamond Green Limited, which is partly owned by a subsidiary of Mitsubishi Corporation (33.4%), ENGIE (23.3%) and China Three Gorges (UK) Limited (10%).
In 2017 the project won a Contract for Difference (CfD) from the UK Government to supply electricity at GBP57.50 (US$74.24) per MWh, less than half the price of power generated by offshore windfarms under construction today.
Country news
-
-
January 30, 2019
BayWa r.e. to manage 60 MW solar projects for Octopus Investments
BayWa r.e. has announced that it has secured a contract for the operations and maintenance (O&M) of thirteen UK solar farms on behalf of Octopus Investments.
Read more -
January 17, 2019
Hitachi suspends work on 5.8 GW nuclear power project in Wales
Horizon Nuclear Power has announced that it will suspend its UK nuclear development programme, following a decision taken by its parent company Hitachi, Ltd.
Read more -
December 14, 2018
400 MW offshore wind farm in the UK refinanced for US$1.6 billion
The shareholders of the 402 MW Dudgeon offshore wind farm in the United Kingdom have announced the signing and pricing of privately placed notes for the refinancing of the project’s existing non-recourse project debt, with financial close expected next week.
Read more -
November 28, 2018
EDPR, Mitsubishi and Engie secure over US$3 billion financing for UK offshore wind project
EDP Renováveis S.A. (EDPR), through its subsidiary EDPR UK Limited, Diamond Generating Europe Limited (DGE) and ENGIE have announced that Moray Offshore Windfarm (East) Limited (MOWEL) has successfully secured financing for the construction of an 950 MW offshore wind farm.
Read more -
November 21, 2018
Equitix to acquire 25% stake in 220 MW coal conversion project in Wales
Atlantis has announced that it has signed a Heads of Terms to sell a 25% shareholding in Uskmouth Power Station to Equitix for a cash consideration of GBP32.9 million (US$42.2 million).
Read more
