SAE secures CfD for MyGen site
Published by Jessica Casey,
Editor
Energy Global,
SAE has secured a Contract for Difference (CfD) in the latest allocation round (AR) for the MeyGen site. These CfD contracts, which guarantee £172/MWh, for 15 years from 31 March 2029, the target commissioning date, will allow SAE to increase the size of the MeyGen 2 development by approximately 9 MW, enabling more clean, home-sourced, predictable energy to be generated at its MeyGen site in Scotland.
On 8 September 2023, SAE secured contracts for 50 MW in AR4 and AR5, and this further success in AR6 will bring the total project under development to 59 MW.
This next phase is in addition to the 6 MW already operational at the site. MeyGen has so far produced 66 GWh of energy, more than all other tidal stream sites in the world combined.
To deliver the 59 MW project, SAE is in advanced discussions with global manufacturing and engineering firms. These non-binding discussions are progressing well, and SAE will provide further updates as and when appropriate.
Graham Reid, CEO of SAE Renewables, commented: “The scale and opportunity that MeyGen represents for the industry the supply chain, our stakeholders and the wider UK, is significant and we will work with all involved to ensure its success.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Summer 2024 issue
The Summer 2024 issue of Energy Global starts with a guest comment from Terrawatt on the streamlining of the permitting process in Italy, before moving on to a regional report from Frost & Sullivan on the energy landscape in Asia Pacific. This issue looks at key topics such as wind installation vessels, offshore wind turbine foundations, weather analysis, solar maintenance, and more!
Read the article online at: https://www.energyglobal.com/other-renewables/05092024/sae-secures-cfd-for-mygen-site/
You might also like
An evolution in wind energy
Stefano Santoni, Davi, Italy, examines the need for offshore and onshore wind turbine components to meet increasing demand in the wake of the growth of wind energy.