OSLO (Reuters) – Octopus Energy, Britain’s fourth-largest energy supplier, has signed a power purchase agreement (PPA) with Shell Energy for up to 2.4 terawatt hours (TWh) per year from the Dogger Bank offshore wind farm project, it said on Thursday.
The long-term deal covers the power demand of around 24% of Octopus’ current customer base, or around 800,000 households, the company said, adding it expected first electricity supplies from 2024.
“If the energy crisis has taught us anything it is that we need to move fast to an energy system based on cheap renewables – and Dogger Bank will help to get us there,” Matt Bunney, head of energy at Octopus Energy Group, said in a statement.
The company did not disclose the financial details nor the specific length for the agreement.
Dogger Bank, off the northeast coast of England, is a joint venture between Equinor, SSE Renewables and Vaargroenn and once completed will be the world’s largest wind farm with a capacity of 3.6 gigawatts (GW), enough to power roughly 6 million homes a year.
Shell Energy has previously signed an agreement with the Dogger Bank consortium to offtake 20% of the wind farm’s energy production.
(Reporting by Nora Buli in Oslo; Editing by Tomasz Janowski)
