Statkraft’s Power Purchase Agreement With Seagreen Wind Energy

Gowling WLG has advised Statkraft on its power purchase agreement with Seagreen Wind Energy.

Statkraft has agreed a long-term deal to purchase 50% of the electrical output and associated benefits from Seagreen wind farm, the 1.1GW offshore wind farm development owned by SSE Renewables and Total.

Seagreen’s 114 wind turbines will be built in four phases on the Firth of Forth and will power around one million homes, which equates to nearly 40% of households in Scotland. The first three phases will receive support under the UK government’s CfD scheme, with the fourth phase proceeding on a subsidy-free basis.

Gowling WLG partner Gus Wood (Picture) and principal associate James Stanier advised the business on this PPA.

Involved fees earner: James Stanier – Gowling WLG; Gus Wood – Gowling WLG;

Law Firms: Gowling WLG;

Clients: Statkraft;