View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 30, 2019

ABB secures contract for world’s largest offshore wind farm

ABB has been awarded contracts by Equinor and its partner SSE Renewables to connect offshore wind farms in the Dogger Bank region of the North Sea to the UK transmission network.

By Umar Ali and Jack Unwin

Swiss technology company ABB has been awarded contracts by Norwegian energy company Equinor and its partner SSE Renewables to connect offshore wind farms in the Dogger Bank region of the North Sea to the UK transmission network.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

The Dogger Bank development will be the world’s largest offshore wind farm development, and consists of three projects: Creyke Beck A, Creyke Beck B and Teesside A.

Creyke Beck A and B will produce eight terawatt-hours (TWh) of renewable energy each year, enough to power at least 1.8 million homes.

ABB will supply its high-voltage direct current (HVDC) converter systems to connect Creyke Beck A and Creyke Beck B to the UK power grid, the first-ever use of HVDC technology in the UK’s offshore wind market.

Norwegian company Aibel also providing two HVDC offshore converter platforms with an option for a third platform at Teesside A. ABB and Aibel signed a strategic partnership agreement in October 2016 to develop offshore wind power connections.

Equinor and SSE both own 50% of the three projects, as agreed in August 2017. The development will have a total installed capacity of 3.6 gigawatts (GW), enough energy to power 4.5 million UK homes. The Dogger Bank projects are estimated to trigger a total capital investment of around £9bn between 2020 and 2026.

ABB Power Grids president Claudio Facchin said: “Winning the contracts from SSE Renewables and Equinor for the landmark Dogger Bank project underscores ABB’s innovative offshore wind technology and expertise. It also highlights the success of ABB Power Grids’ customer partnerships, both on design optimization as well as on the business model level.

“ABB is committed to delivering sustainable solutions with pioneering technologies and in the Dogger Bank project we are helping to make offshore wind competitive and thus contributing to a stronger, smarter and greener grid.”

SSE director of capital projects Paul Cooley said: “Dogger Bank is truly a world-leading project, pushing new boundaries in the provision of ground-breaking technology to deliver low-carbon energy generation to help achieve the UK’s net zero ambition by 2050.

“The appointment of Aibel and ABB as project partners will ensure that the latest grid solution technology is deployed to support our successful project delivery.”

ABB share price currently stands at CHF20.96 on the SIX Swiss Exchange, giving the company a market capitalisation of CHF45.40bn. This has continued a recent rise throughout October, as ABB’s share price had been CHF17.92 on 7 October.

ABB share price in 2019

Equinor and SSE are expecting a final investment decision for the first project to be made in 2020, with first power generation planned for 2023 and further phases of the Dogger Bank project to be developed after this first generation.

With the addition of Teesside B, the capacity of the projects will increase to 4.8GW.

 

 

 

Related Companies

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology