Effective today, Danske Commodities will take over balancing and trading of 281 MW, equivalent to 70% of the wind farm’s production. Dudgeon is owned by Equinor (35%), Masdar (35%) and China Resources (30%). The wind farm is located 32 km off the coast of Norfolk in the UK and powers more than 410,000 British households.
“We have signed on to balance and trade 281 MW generated from Dudgeon offshore wind farm, making this Danske Commodities’ fourth long-term PPA in the UK market. Together with Equinor, we are growing our portfolio and making renewables a profitable business – one project at a time,” said Danske Commodities CEO Helle Østergaard Kristiansen.
“The Dudgeon offshore wind farm is part of Equinor’s strategy to gradually supplement our oil and 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 supplier chain,” said Irene Rummelhoff, Executive Vice President of Marketing, Midstream and Processing at Equinor.
The Dudgeon agreement adds to Danske Commodities’ growing presence in the long-term PPA market. In June, the energy trader inked a 20-year PPA with Hywind Scotland wind farm and earlier this month, a 15-year PPA with Sheringham Shoal wind farm was announced.
Since becoming part of Norwegian energy company Equinor on 1 February 2019, Danske Commodities has increased its renewables portfolio in the UK by 50%.
Danske Commodities now has more than 1,300 MW of renewable assets under management in the UK and trades power in 38 countries.