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Bloomberg
A giant wind farm being developed off the coast of the UK will sell some of its power to energy trader Danske Commodities A/S.
Under the 15-year deal, the subsidiary of Equinor ASA will trade and balance power from 480 megawatts of the Dogger Bank wind farm, about 13% of its
capacity. It’s a key step as the developers of the massive wind park move towards a final investment decision.
Dogger Bank is a joint venture between Equinor and Scottish utility SSE Plc. The pair won a government auction to sell power at record-low prices last year.
That contract means that the owners of the wind farm will get paid the same price no matter what happens in the power market. If prices sink the wind farm is protected. But if prices gain in the coming years, as some forecasters predict, the owners will leave money on the table.