SSE.L

SSE Plc
SSE Plc - UK Contracts for Difference Allocation Round 6
3rd September 2024, 07:25
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 6986C
SSE PLC
03 September 2024
 

 

UK CfD Allocation Round 6

SSE plc

UK Contracts for Difference Allocation Round 6

3 September 2024

 

SSE has today, 3 September 2024, been informed that Cloiche Wind Farm has been successful in the UK's sixth Contracts for Difference (CfD) Allocation Round and is set to be awarded a low-carbon power contract for a total of 130.5MW.

Cloiche will receive the guaranteed strike price of £50.90/MWh, based on 2012 prices but annually indexed since then for CPI inflation, for the contracted low-carbon electricity it will generate for a 15-year period following delivery year 2027/28. The project has secured a CfD for 130.5MW, 100% of total capacity. 

Securing a route to market for Cloiche ensures it can receive a guaranteed income for the renewable energy it can produce during the lifetime of the contract and for a significant part of its operational life.

Cloiche, which was granted consent in November 2023, is in late-stage development and will be targeting final investment decision in 2025. 

Stephen Wheeler, Managing Director for SSE Renewables, said:

"We are delighted Cloiche has been successful in AR6. Securing a route to market will enable us to progress the project which is critical to delivering new homegrown green energy for the UK.

"But there is much more to do if the UK is to meet its ambitious clean power target by 2030, which requires a quadrupling of offshore wind capacity.

"At SSE Renewables, we are waiting for consent from the Scottish Government for Berwick Bank, which at 4.1GW would be one of the world's largest offshore wind farms and would make the single biggest contribution to the achievement of both the Scottish and UK Governments' offshore wind targets.

"Ensuring mission-critical projects like Berwick Bank get consent quickly and designing the next offshore auction round to deliver over 10GW of offshore wind will give the transition to clean power by 2030 the significant boost it clearly needs."

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCSSDSWDELSEEU]]>
TwitterFacebookLinkedIn