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Statkraft to purchase clean energy from KOWL

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Energy Global,


The installation of the wind turbines at Kincardine, one of the world’s largest floating wind farms, is now complete. This milestone also marks the start of the long-term power purchase agreement (PPA) signed in 2018 between Statkraft and Kincardine Offshore Wind Farm Ltd (KOWL). The KOWL development will provide over 200 000 MWh/yr to the national grid, enough to power over 50 000 homes.

Statkraft will purchase all electrical output from the floating wind project with a guaranteed minimum price per MWh until 2029. This long-term route-to-market partnership with Statkraft, which is for 100% of the electricity generated by the project, has been set up with pre-agreed terms for the full duration, reducing the financial risk to its investors.

Since 2006, Statkraft has invested close to £1.5 billion in the UK's renewable energy infrastructure and facilitated over 6 GW of new-build renewable energy generation through PPAs. A PPA is a contract between an energy generator and a buyer, and Statkraft is a leading provider of both short and long-term PPAs, with over 10 years' experience in the UK market.

 

 

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Summer 2021 issue

The Summer issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including CEWEP, Enel Green Power, Turboden S.p.A., Cornwall Insight, and more.

Read the article online at: https://www.energyglobal.com/special-reports/21092021/statkraft-to-purchase-clean-energy-from-kowl/

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