UK's LCCC Signs Contracts for Difference with AR7 Winners

The UK Low Carbon Contracts Company (LCCC) has signed Contracts for Difference (CfD) with over 200 projects awarded in the Allocation Round 7 (AR7), covering a total capacity of around 14.7 GW, with 8.4 GW offshore wind projects accounting for the biggest share of the contracted capacity. The seventh CfD allocation round was run with a separate process for offshore wind technologies, with other renewable energy projects competing in AR7a, where CfDs were awarded to 4.9 GW of solar and 1.3 GW of onshore wind projects. Fixed-bottom offshore wind represents the majority of the awarded AR7 capacity, with around 8.2 GW contracted at a weighted average strike price of about GBP 90.91/MWh. RWE's Norfolk Vanguard East, Norfolk Vanguard West, two Dogger Bank South East, Dogger Bank South West, and the Awel y Môr offshore wind projects, and SSE Renewables' Berwick Bank B are among the fixed-bottom projects that won CfDs. The winning floating wind projects include the 100 MW Erebus in the Celtic Sea and the 100 MW Pentland in Scotland. This deal demonstrates the continued strength of the Contracts for Difference scheme in delivering low-carbon power and reducing reliance on global fossil fuel markets.

Counterparts (3)

Seller

SSE Renewables

company

SSE Renewables is a leading developer, operator, and owner of renewable energy assets across the UK, Ireland, and internationally. They focus on onshore and offshore wind, hydro, and pumped storage projects, contributing to the transition to a net-zero future.

RWE

company · 6 deals

RWE is a leading renewable energy company investing billions of euros worldwide in the energy transition. They are focused on expanding offshore and onshore wind, solar energy, and battery storage, complemented by global energy trading, with a goal to be net zero by 2040.

Buyer

U

UK Low Carbon Contracts Company (LCCC)

company