REG - SSE Plc - UK Contracts for Difference Allocation Round 6

SSEAnnouncement

03/09/2024 08:30

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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."

 

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