Effective today, Danske Commodities will take over balancing and trading of 126 MW, equivalent to 40% of the wind farm’s production. Sheringham Shoal is owned by Equinor (40%), Equitix (40%) and Green Investment Group (20%). The wind farm is located 17 km off the coast of North Norfolk in the UK and powers about 220,000 British households.
“The Sheringham Shoal PPA is a great addition to our long-term portfolio and it shows our commitment to British renewables. Danske Commodities has traded power in the UK for the past ten years and we continue to be a part of the exciting development of British offshore wind”, said Danske Commodities CEO Helle Østergaard Kristiansen.
“The world needs more energy, and in the future, more of its energy supply will have to come from renewable resources such as hydropower, waves and wind. With around 40% of the EU’s entire wind resources available in British waters, it makes sense to harness offshore wind”, said Tor Martin Anfinnsen, Senior Vice President for Marketing and Trading in Equinor.
The Sheringham Shoal agreement adds to Danske Commodities’ growing presence in the long-term PPA market. In June, the energy trader inked a 20-year PPA for trading and balancing of Hywind Scotland wind farm to maximise new owner Equinor’s growing production of renewable energy.
Danske Commodities now has more than 1,100 MW of renewable assets under management in the UK and trades power in 38 countries.