Total buys majority of giant Scottish windfarm as SSE gives final go-ahead

French oil company Total has bought a 51 per cent stake in the Seagreen One offshore windfarm from SSE Renewables, which today gave the final go-ahead to the £3 billion project.

SSE will continue to lead the development and construction of the 1,075MW array in the Firth of Forth which will become the largest single source of renewable generation in Scotland when completed in 2022/23.

The firm has signed a contract with MHI Vestas to supply 114 of its 10MW turbines for project. The blades will be fabricated at its factory on the Isle of Wight.

SSE Renewables secured a Contract for Difference for around 40 per cent of its capacity at a strike price of £41.61/MWh (2012 prices) in the latest auction in 2019. A further 30 per cent will be contracted to the wider SSE group, which said it is hoping to take advantage of a growing demand for long term fixed price green power.

Jim Smith, managing director of SSE Renewables, said: “Following the agreement with Total we are looking forward to delivering the Seagreen offshore wind farm which will contribute towards building a cleaner, more resilient economy as we pursue a green recovery from coronavirus by unlocking £3 billion of low carbon investment, creating green jobs and generating the zero-carbon power we need to reach net zero.”

SSE said the windfarm is expected to provide a £1 billion boost to the Scottish economy over its full lifetime. It is continuing to develop plans for phase two and three of the Seagreen project, which will together provide up to 3.2GW of additional generation capacity.

Commenting on the announcement, energy and clean growth minister Kwasi Kwarteng said:  “Seagreen One will create hundreds of jobs while powering millions of homes and helping to cut CO2 emissions, highlighting the key role offshore wind will play in our journey to a net-zero carbon emissions UK economy.

“The UK has invested more in offshore wind than any other country, is home to the world’s largest wind farms, and already supplies 10 per cent of UK electricity demand – a figure we expect to double by the middle of the decade.”