Floating wind: ‘World’s largest’ project begins supplying power off Scottish coast
50MW Kincardine floating wind farm off east coast of Aberdeenshire has been developed under PPA deal with Statkraft
A floating wind farm off the east coast of Scotland billed as the largest in the world has begun supplying electricity, after the developer behind the project today confirmed installation of the wind turbines has now been compeleted.
The 50MW Kincardine floating offshore wind farm, situated around 15km southeast coast of Aberdeenshire, has been developed under a Power Purchase Agreement (PPA) inked in 2018 with Statkraft, which will see the European renewables giant buy all of the electrical output from the project with a guarnatnteed minimum price per megawatt hour until 2029.
The project, which was completed by developer Kincardine Offshore Windfarm Ltd in August, is expected to produce more more than 200,000 MWh of power annually – enough to power over 50,000 homes – from its six turbines which float above water depths ranging between 60 metres to 80 metres.
Floating wind turbines offer the potential to capture stronger wind speeds from further out at sea in deeper waters as, unlike typical offshore wind farms, they are not tethered to the seabed.
“This is the first floating project that Statkraft has been involved in and we expect more to follow,” he said. “[Floating wind] is a key technology that could help countries around the world achieve their renewable energy targets. PPAs such as these play a key role in providing project owners with financial predictability and security therefore helping enable long term investment and financing.”
The fledgling floating wind sector is expected to expand rapidly over the coming years as space in shallow waters becomes increasingly stretched and developers explore the potential for wind farms in deeper waters, where fixed foundation structures are impossible and wind yields higher and more reliable. Advocates of floating wind technologies also argue they could help further reduce the cost of offshore wind power.
Statkraft claims it has invested close to £1.5bn bn in the UK’s renewable energy infrastructure and facilitated more than 6GW of new-build renewable energy generation through PPAs since 2006.
Jamie Altolaguirre, managing director of Kincardine Offshore Windfarm Ltd, said the PPA the developer had signed with Statkraft offered “clarity on long-term income”.
“We wanted a counterparty who had offshore wind experience in the UK and a track record with UK law firms, funders and investors,” he said. “Statkraft, as Europe’s largest supplier of renewable energy, stood out due to their own large-scale investment and operational experience in this region. This solid experience allowed them to provide bankable and competitive commercial terms and to agree them quickly.”
Floating wind turbines are currently limited to a clutch of demonstration and pilot projects, but a significant number of floating wind farms are set to come online over the coming decade. A report last week by trade body RenewableUK estimated the UK’s current floating wind development pipeline at 54GW, which it said was the largest in the world.
Last week, meanwhile, the UK government allocated a £24m budget for new floating wind projects in its next Contracts for Difference clean power auction, which is scheduled to open in December.
