SSE PLC UK CfD Allocation Round 4--Viking Energy Wind Farm (6556R)
July 07 2022 - 2:08AM
UK Regulatory
TIDMSSE
RNS Number : 6556R
SSE PLC
07 July 2022
SSE plc
UK Contracts for Difference Allocation Round 4 - Viking Energy
Wind Farm Results
7 July 2022
SSE Renewables has today, 7 July 2022, been informed that its
wholly-owned Viking Energy Wind Farm (Viking) has been successful
in the UK's fourth Contract for Difference (CfD) Allocation Round
and is set to be awarded a low-carbon power contract for 220MW.
Viking's success in securing a contract follows a competitive
auction process in Allocation Round 4 (AR4) where it competed
within Pot 2 of the allocation round set aside for 'less
established' technologies including Remote Island Wind.
The 443MW Viking project, which SSE Renewables is currently
building in the Shetland Islands, has secured a CfD for 220MW ( 50%
of its total capacity) at a strike price of GBP46.39/MWh for the
2026/27 delivery year. The successful project will receive its
guaranteed strike price, set on 2012 prices but annually indexed
for CPI inflation, for the contracted low carbon electricity it
will generate for a 15-year period. Securing a CfD for Viking
stabilises the revenue from the project whilst also delivering
price security for bill payers.
Viking is progressing through construction with over 50 per cent
of turbine foundation bases poured. When complete in 2024, Viking
will be the UK's most productive onshore wind farm in terms of
annual electricity output (^) with the project also contributing to
Shetland's security of supply by underpinning the HVDC transmission
link that will connect the islands to the mainland for the first
time.
Stephen Wheeler, Managing Director of SSE Renewables, said:
"We are delighted that Viking Energy Wind Farm has been
successful in securing a 15-year contract in the UK's fourth and
highly competitive CfD allocation round. Viking will be the most
productive onshore wind farm in the UK when it enters operation
from 2024, and will play a crucial role in decarbonising energy
supply in the Shetland Islands as well as in Scotland.
"Through the delivery of onshore wind energy projects such as
Viking, SSE Renewables is helping drive the delivery of SSE's Net
Zero Acceleration Programme (NZAP) which will see the company
double its installed renewable energy capacity to 8GW by 2026 and
increase our annual renewable energy output fivefold to over 50TWh
by 2031 ."
^ Most productive UK onshore wind farm claim based on projected
total generation output by Viking Wind Farm of 1,796.35 GWh per
annum and a comparison with the leading UK operational and in
construction wind farms.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCGLGDRRGGDGDR
(END) Dow Jones Newswires
July 07, 2022 02:08 ET (06:08 GMT)
Sse (LSE:SSE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sse (LSE:SSE)
Historical Stock Chart
From Apr 2023 to Apr 2024