SSE PLC SSE success in ScotWind leasing round
RNS Number : 6602Y
17 January 2022
SSE bolsters renewables pipeline with success in ScotWind seabed
SSE Renewables and its ScotWind partners Japanese conglomerate
Marubeni Corporation (Marubeni) and Danish fund management company
Copenhagen Infrastructure Partners (CIP), through one of its funds,
have been notified by Crown Estate Scotland that they have been
successful in the ScotWind auction for new offshore wind leases in
The partnership has been awarded the rights for 858 square
kilometres of seabed to develop an offshore wind project of up to
2.6GW of capacity in the E1 area off the east coast of Scotland.
SSE owns a 40% share of the development rights with Marubeni and
CIP each owning 30%.
Due to the water depths of the site, floating wind technology
will be deployed, making this one of the largest commercial scale
floating wind farm opportunities in the world.
Success in ScotWind further demonstrates SSE's position as the
leading offshore wind developer in Scotland, where the company is
currently building Seagreen, which will be Scotland's largest and
the deepest fixed bottom offshore wind farm in the world when
completed. SSE Renewables is also developing the Berwick Bank
offshore wind farm, which at up to 4.1GW will be one of the largest
projects in the world when completed by the end of this decade.
SSE plc recently published its Net Zero Acceleration Programme,
which included fully funded GBP12.5bn strategic capital investment
plans to 2026 alongside ambitious 2031 targets, aligned with 1.5
degree science based targets. The plans for renewables include an
increase of 4GW of renewables installed capacity (net) over the 5
years to 2026, doubling installed renewables capacity to 8GW (net).
In addition, the programme includes ambitious new 2031 targets
including a fivefold increase in renewables output to 50TWh,
maintaining a sustained renewables pipeline in excess of 15GW, and
a trebling of SSE's owned renewables capacity to over 13GW (net)
from c.4GW today. The ScotWind project brings SSE's secured
pipeline to around 11GW with further opportunities in development
to grow this to the sustained 15GW target.
Alistair Phillips Davies, Chief Executive of SSE, said :
"We are delighted to have been successful in winning our
preferred site in the highly competitive ScotWind process, which is
testament to the strength of our partnership with Marubeni and CIP.
Projects like these can help reduce the UK's exposure to volatile
wholesale markets, keeping prices down for consumers and creating
skilled jobs in the process. As demonstrated by our recent GBP15m
investment in a new tower factory at Nigg, as a national clean
energy champion we are committed to delivering the wider jobs and
opportunities for Scotland that a thriving offshore wind industry
can bring. This ScotWind project will also lead to billions more
direct and indirect investment into the Scottish economy over its
lifetime. The major increase in offshore wind through ScotWind will
also drive the requirement for investment in the electricity
Transmission network in the North of Scotland and demonstrates
again the strong alignment between renewables and networks at the
core of the SSE Group."
SSE and its partners have already invested significant funds and
resources into pre-award development of the project and following
acceptance of the lease Option Agreement, will continue this
development with a view to submitting a timely consent application.
Grid applications have already been made.
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January 17, 2022 05:11 ET (10:11 GMT)
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