Danish energy trader Dansk Commmodities (DC) has inked its third offshore wind power purchase agreement (PPA) in under a month, with the signing of a 15-year deal for production from the UK 402MW Dudgeon project.
DC takes over balancing and trading of 281MW, around 70% of the output of the wind farm, operated by Equinor (35%) – which bought the trading house in a €400m ($468m) deal last year, along with development partners Masdar (35%) and China Resources (30%).
“Together with Equinor, we are growing our portfolio and making renewables a profitable business – one project at a time,” said DC CEO Helle Østergaard Kristiansen.
Irene Rummelhoff, Equinor’s executive vice president of marketing, midstream and processing, stated: “Dudgeon is part of [our] strategy to gradually supplement our oil & gas portfolio with profitable renewable energy. Offshore wind has been the natural place to start, as we can build on our maritime expertise, experience from complex projects and our supply chain.”
Earlier this month, DC finalised another 15-year PPA, to buy power from the 317MW Sheringham Shoal offshore wind farm, and in June it signed up to a 20-year commitment for production from 30MW Hywind Scotland, the world’s first floating wind array. Both projects are also owned by Equinor.
Since being bought by the Norwegian energy giant, DC, which trades power in 38 countries, has grown its renewable portfolio in the UK by 50%, to over 1.3GW.