TotalEnergies and SSE Renewables joint venture Seagreen Wind Energy is to offer corporate purchase power agreements (cPPAs) from the under development 1075MW offshore wind farm off Scotland.
The developers said the Seagreen terms “significantly shorten the typical cPPA length, providing buyers with an alternative option to standard longer-term cPPAs”.
Seagreen’s cPPAs will offer five-year contract lengths, which the companies said gives “corporates a balance of contract duration flexibility with surety of supply”.
Typically, cPPA contracts are 10 years or more in duration, the developers added.
Businesses will be able to purchase energy in blocks of 20MW or 100 gigawatt-hours a year as part of the Seagreen offshore cPPA.
Tenders for the cPPAs will be released later this year, after the summer.
Seagreen will be operational in 2023.
Seagreen Wind Energy finance director Damien McSweeney 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.”
SSE Renewables director of capital projects Paul Cooley said: “SSE Renewables is a world-leading developer, operator and owner of offshore wind energy, and is delighted to be able to bring our best-in-class industry knowledge to develop Scotland’s largest offshore wind farm.
“Seagreen is a crucial offshore wind energy project that is having a real impact in helping Scotland and the UK ‘Build Back Better’.
“The short-term offshore cPPA allows corporates the chance to help decarbonise their renewable energy supplies through one contract with a truly iconic wind farm – a major competitive edge in the year of COP26.”
TotalEnergies vice president of offshore wind Olivier Terneaud said: “Seagreen is a key strategic project and it underlines both our commitment to investing in Scotland and reaching net zero.
“By becoming a multi-energy company, we aim to address the dual challenge of the energy transition: to supply more energy but with fewer emissions.”