EDP wins 15-year contract to sell offshore wind energy in UK
In a statement sent to the Portuguese Securities Market Commission (CMVM), EDP Renováveis (EDPR) said that the British government has awarded Ocean Winds, owned in equal shares by EDPR and Engie.
Ocean Winds, a joint venture between Portugal’s EDP Renováveis and Engie, has won a contract in the UK to sell energy at a guaranteed price for 15 years from part of the capacity of the Moray West offshore wind farm.
In a statement sent to the Portuguese Securities Market Commission (CMVM), EDP Renováveis (EDPR) said that the British government has awarded Ocean Winds, owned in equal shares by EDPR and Engie, “a 15-year CfD [contract for difference] for the sale of the energy produced by 294 MW [megawatts] of the 882 MW Moray West offshore wind project”.
The contract guarantees a remuneration of £37.35 per megawatt-hour (MWh) at 2012 prices (equivalent to close to €44 at the current exchange rate).
“The project is located in the UK and energy delivery is estimated to be in 2024,” EDPR advanced.
With this transaction, EDPR says it now has 10.6 GW (gigawatts) secured out of a total 20 GW target for 2021-25 announced at its capital markets day.
“Additionally, EDPR has achieved its target of around one GW of offshore capacity secured for 2021-25,” it adds.
