Wednesday 6 February 2019

Centrica and ENGIE to trade power from Moray Offshore Wind Farm

Centrica and ENGIE have signed Power Purchase Agreements (PPAs) for electricity generated from the Moray Offshore Wind Farm.

Centrica will trade and balance 76.7% of power, covering forecasting, scheduling, dispatching, trading of production, balancing and settlement, as part of the deal struck with Moray Offshore Wind Farm (East) Limited,

The 950MW wind project won a Contract for Difference (CfD) from the UK Government in 2017 to supply electricity at £57.50/MWh.

It is to be developed 22km off the coast of Scotland and expected to generate enough electricity to power 950,000 homes.

The PPA is for a 15-year period, starting from commercial operation which is scheduled for 2022.

The deal with ENGIE covers the remaining 23.3% of the electricity generated by the wind farm.

Oscar Diaz, Project Director for Moray East said: “Moray East is a landmark project for the offshore wind industry, delivering sustainable, renewable generation at a highly competitive power price. This PPA brings high capacity, low cost, low carbon power generation to the UK wholesale market on a long term contract with associated stability for the entire CfD period.”

The Moray East consortium is currently owned by EDPR (43.3%) and Diamond Green Limited, which is partly owned by DGE (33.4%) and ENGIE (23.3%).