Seagreen Wind Energy, a joint venture between TotalEnergies and SSE Renewables and soon to be Scotland’s largest offshore wind farm, is launching its offshore corporate purchase power agreement (cPPA) offerings, which are said to significantly shorten the typical cPPA length, providing buyers with an alternative option to standard, longer-term cPPAs.
Seagreen’s cPPAs offer an alternative to traditional cPPAs for many businesses to access buying renewable energy directly from an offshore wind farm. With a five-year contract length, it offers corporates a balance of contract duration flexibility with surety of supply.
Businesses will be able to purchase energy in blocks of 20 MW or 100 GWh per annum as part of the Seagreen offshore cPPA. Securing renewable energy directly from Seagreen will also help contracting parties with their environmental, social, and governance strategies, connecting their business to what will be one of the world’s largest offshore wind farms.
Tenders for Seagreen’s offshore cPPAs will be released later this year, after the summer.
Damien McSweeney, finance director for Seagreen Wind Energy, said: “Seagreen offers an opportunity for large corporates to buy renewable energy that may normally be out of their reach. We are innovating the offshore cPPA model to help energy-intensive businesses to hit net-zero targets with ease and speed.”
Seagreen offshore wind farm in the North Sea will be operational in 2023 and will be able to produce enough low-carbon electricity to power 1.6m homes, or the equivalent of almost every home and business in Edinburgh and Glasgow combined.