Ørsted has signed an agreement with Dogger Bank wind farm in which Ørsted will be responsible for exchanging and balancing 40 percent of the power produced from the first two phases of the 3.6 GW wind farm.
Ørsted will exchange and balance 960MW of renewable power generation from 2.4GW of installed capacity at Dogger Bank wind farm A and B on the electricity market on a regular basis and will deal with intraday variations in volume and prices balancing the power supply to the grid. Ørsted’s market exposure is limited to frequent fluctuations in power prices.
The contract between Ørsted and Dogger Bank for the wind farm is the largest route-to-market deal to date for a renewable project signed in a competitive tendering phase in the UK market.
“We’re very pleased with the signing of this agreement which underlines our position as a leading energy trading company in the UK. Handling a 15-year trading agreement with the Dogger Bank Wind Farm is indeed in line with our vision to create a world that runs entirely on green energy. We’re very much looking forward to our cooperation.”Morten Buchgreitz, executive vice president and CEO of Ørsted Markets & Bioenergy
“Today’s announcement that we’ve concluded an offtake power purchase agreement with Ørsted for Dogger Bank A and B marks one of our final milestones ahead of soon reaching financial close for what will be the world’s biggest offshore wind farm. These agreements with leading energy trading companies will ensure the renewable energy generated by the first two phases of Dogger Bank Wind Farm can be sold into the UK electricity market, delivering on our promise to power millions of British households with green energy.”Steve Wilson, Dogger Bank wind farm project director at SSE Renewables.
“We’re delighted to announce offtake agreements for Dogger Bank A and B. Despite the current global challenges, the project is really moving forwards, and this tangible milestone brings us one step closer to financial close. Large-scale renewable energy projects like Dogger Bank aren’t only crucial for the UK to reach its net zero ambitions, the project will bring many economic benefits to the UK in terms of jobs and supply chain opportunities. We’re proud to be contributing to a just energy transition and supporting the government’s ten point plan for a green industrial future.”Halfdan Brustad, vice president for Dogger Bank at Equinor.
The Dogger Bank wind farm, owned by SSE Renewables (50 percent) and Equinor (50 percent), will be situated 130 kilometers off the coast of Yorkshire in the United Kingdom. It consists of three phases (Dogger Bank A, B and C) each accounting for 1.2 GW. Ørsted will take power off from the first two stages, Dogger Bank A and Dogger Bank B.