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Turbine firm deal turns the tide

Turbine firm deal turns the tide

The giant Beatrice offshore windfarm in the Moray Firth has been given a major boost after being offered a contract for difference under the UK Government’s energy reform plans.

It is the only one offered a CFD deal in Scotland.

The 664-megawatt project owned by SSE and Repsol had missed out on the UK Government shortlist in December of “affordable” projects.

But yesterday the 277-turbine scheme, planned for alongside the Beatrice oil field eight miles off the Caithness coast, was named among the first eight renewables developments to secure a contract to supply energy.

It marks a boost for the project, just weeks after developer SSE said it was scaling back its involvement amid concerns over a lack of confidence in the UK offshore wind industry.

And it was only last month that planning permission for the Moray Firth project, which could create up to 5,000 jobs and power more than a million homes, was approved.

Scottish Renewables’ Lindsay Leask welcomed the news, saying: “It is greatly encouraging to see a Scottish offshore wind project selected for an early investment contract by the Department of Energy and Climate Change. Having received planning consent from the Scottish Government in March, to now get an early contract for difference gives the Beatrice project the certainty of support we’ve been calling for from the UK Government.

“With our huge offshore wind resource, it is not unrealistic to expect to see a number of Scottish offshore wind projects receive planning consent and secure financial support by the end of the year.

“This decision will help kick-start the offshore wind sector in Scotland, which has the potential to provide thousands of jobs and billions of pounds of inward investment to our country, while also making a significant contribution to Scotland’s ambitious 2020 renewable energy targets. Among other projects offered contracts for difference under the UK Government’s electricity market reform programme are:

Offshore wind projects at Burbo Bank, Norfolk, Yorkshire and in the Irish Sea off Walney Island;

Biomass projects at Drax power station – Selby, Yorkshire; the Lynemouth project in Northumberland; and a dedicated plant in Middlesbrough.

The total private sector investment in the eight projects approved for contracts – which together will generate 4.5GW of renewable energy – is ÂŁ12billion.

“These contracts for major renewable electricity projects mark a new stage in Britain’s green energy investment boom,” said Energy Secretary Ed Davey.

“By themselves, they will bring green jobs and growth across the UK, but they are a significant part of our efforts to give Britain cleaner and more secure energy. These are the first investments from our reforms to build the world’s first low carbon electricity market – reforms which will see competition and markets attract tens of billions of pounds of vital energy investment whilst reducing the costs of clean energy to consumers.”

Mr Davey said the announcement would give confidence to investors in green energy schemes.

“Record levels of energy investment are at the forefront of the government’s infrastructure programme and are filling the massive gap we inherited,” he said.

“It’s practical reforms like these that will keep the lights on and tackle climate change, by giving investors more certainty.”