Ocean Winds, an ENGIE JV, secures 400 MW PPA in the US
ENGIE's Mayflower Wind has secured a 400 MW Power Purchase Agreement (PPA) from Massachusetts, bringing its total announced capacity to approximately 1,200 MW.
Rhea-AI Summary
ENGIE's Mayflower Wind has secured a 400 MW Power Purchase Agreement (PPA) from Massachusetts, bringing its total announced capacity to approximately 1,200 MW. This development is part of ENGIE's strategy to expand its renewable capacity from 31 GW in 2020 to 50 GW by 2025. With this new PPA, ENGIE's offshore wind projects under construction or secured now reach 4 GW, with an additional 0.5 GW already operational. Future operations are expected to begin in the mid-2020s, pending further investment decisions.
Positive
- Secured a 400 MW PPA, increasing total capacity to approximately 1,200 MW.
- ENGIE's offshore wind capacity under construction or secured now totals 4 GW.
- The company aims to increase renewable capacity from 31 GW in 2020 to 50 GW by 2025.
Negative
- None.
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HOUSTON, Dec. 20, 2021 /PRNewswire/ -- These 400 MW of PPA are on top of the already 804 MW PPA secured capacity by Mayflower Wind announced in 2019. In total, Mayflower Wind has now c. 1,200 MW of secured capacity, to provide clean energy to customers throughout Massachusetts.
With today's announcement, Mayflower Wind will start development of the federal lease area and continue pursuing additional energy contracts to cover its total seabed lease rights of 2,000 MW. Subject to a future investment decision, operations are expected to be commissioned in the mid-2020s.
"We are very proud that Ocean Winds and its partner have secured a 400 MW PPA, awarded by the Commonwealth of Massachusetts, through Mayflower Wind. The US market and offshore wind are two main priorities within ENGIE's strategy in Renewables, and will contribute significantly to reach the Group's ambitious target to scale up from 31 GW by the end of 2020 to 50 GW in 2025 of renewable capacity," said Paulo ALMIRANTE, ENGIE Senior Executive Vice President, in charge of Renewables, Energy Management and Nuclear Activities.
With this PPA, ENGIE's offshore wind under construction or secured capacities reach 4 GW, in addition to the 0.5 GW already operating.
About ENGIE
Our group is a global reference in low-carbon energy and services. In response to the urgency of climate change, our ambition is to become the world leader in the zero carbon transition "as a service" for our customers, in particular global companies and local authorities. We rely on our key activities (renewable energy, gas, services) to offer competitive turnkey solutions.
With our 170,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.
Turnover in 2019: 60.1 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
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SOURCE ENGIE North America
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