Equinor and SSE will develop the world’s biggest offshore wind farm
London, September 20 - Neftegaz.Ru. UK authorities announced today that Equinor and its partner SSE were awarded contracts to develop 3 large scale offshore wind projects in the Dogger Bank region of the North Sea.
This will be the world’s biggest offshore wind farm development with a total installed capacity of 3.6 GW. The projects are expected to produce enough energy to power the equivalent of 4.5 million UK homes.
The Dogger Bank wind farm will consist of 3 projects: Creyke Beck A, Creyke Beck B and Teesside A.
The auction results reflect the continued cost reductions and technological developments and the increasing competitiveness of bottom-fixed offshore wind. The contracts offer a fixed price for the first 15 years of operation, providing the projects with a long-term predictable revenue stream.
The Dogger Bank projects are estimated to trigger a total capital investment of approximately 10.2 billion EUR between 2020 and 2026. The clearing price is around 45 euros per megawatt-hour.
The partners are planning for final investment decision for the 1st project during 2020 and 1st power generation is planned for 2023. Further phases of the Dogger Bank project will be developed thereafter.
The awards were given under the Contracts for Difference (CfD) competitive auction held by National Grid on behalf of the UK’s Department for Business, Energy and Industrial Strategy (BEIS) which has successfully commissioned 6 GW of offshore wind to reach a target of 30 GW of offshore wind by 2030.