Danish energy trading company Danske Commodities is to buy all of the electricity generated by the 30MW Hywind Scotland floating offshore wind farm under a 20-year power purchase agreement.
Danske Commodities, as sole off-taker, will take over balancing and trading of the power generated by the project, which is owned by Equinor and Masdar.
Danske Commodities chief executive Helle Ostergaard Kristianse said: “The agreement with Hywind Scotland marks a new chapter for Danske Commodities.
“By adding a 20-year PPA to our long-term portfolio, we will continue to strengthen our position in the PPA market and support Equinor’s growing portfolio of renewables.”
Equinor senior vice president, business development, new energy solutions Jens Okland said: “Hywind Scotland is the world’s first floating wind farm and we are excited to partner up with Danske Commodities.
“Floating wind farms hold great potential as close to 80% of the ocean’s resource potential is in deep waters. And looking ahead, floating offshore wind is estimated to constitute 10% of the market, potentially powering 12 million homes by 2030.”
Danske Commodities has also started handling Equinor’s certificates trading activities.
It has more than 5.9GW of renewable assets under management in Europe and is active in 38 power markets.