SSE and TotalEnergies UK Wind Farm Delays Contract That Would Cap Profits
Wind turbine at the Seagreen Offshore Wind Farm in the North Sea.
Photographer: Andy Buchanan/AFP/Getty ImagesOne of the UK’s largest offshore wind farms delayed starting a government contract that would cap the price of its electricity, instead choosing to sell power in the market at more profitable rates.
The Seagreen wind farm, whose owners include SSE Plc and TotalEnergies SE, expects to delay one of its fixed-price contracts until the fall, rather than starting at the end of March, according to data compiled by Bloomberg from the government-owned company that runs the subsidy mechanism. The contract represents about 13% of the capacity of the wind farm off Scotland’s east coast.