SDIC Power''s Benbrack Onshore Wind Power Project Successfully Wins UK Government Contract for Difference

The Benbrack onshore wind power project, which is wholly-owned by SDIC Power, successfully won the fifth round of the Contract for Difference (CfD) in the UK. Located in the Dumfries and Galloway Borough in southwest Scotland, the BenBrack project covers 1,231 hectares of land and has an installed capacity of 67.1MW.

Key Highlights:

* The UK launched the CfD mechanism in 2014 to encourage the development of renewable energy.

* The CfD mechanism allows power generation enterprises to sign agreements to lock the price of electricity and reduce the risk of market price fluctuations.

* SDIC Power acquired 100% of the share of the UK Benbrack wind power project from RWE of Germany in 2021.

Original Press Release:

Sept. 13 -- State Development and Investment Group Co., Ltd. issued the following news release:

On September 8th, 2023 Beijing time, the Benbrack onshore wind power project, which is wholly-owned by SDIC Power, successfully won the fifth round of the Contract for Difference (CfD) in the UK.



In 2014, the United Kingdom launched the CfD mechanism in order to encourage the development of renewable energy. Under the mechanism, power generation enterprises and specialized companies sign CfDs as a supplement to the market price agreement and lock the price of electricity, thereby reducing the risk of market price fluctuations. This model not only provides a guaranteed stable price for power generation enterprises, but also retains the incentive function of market mechanism.



Located in the Dumfries and Galloway Borough in southwest Scotland, the UK, the Benbrack project covers 1,231 hectares of land and has an installed capacity of 67.1MW.



In 2021, SDIC Power acquired 100% of the share of the UK Benbrack wind power project from RWE of Germany, and subsequently completed all planning permissions for the development phase. With construction started in October 2022, the project has completed construction of all access road and part of the wind turbine foundation concrete pouring, and is expected to be connected to power grid for electricity generation in 2025. The project is also a concrete manifestation of the commitment of Chinese enterprises to develop clean energy and serve the net zero strategy of the UK.



The successful winning of the CfD bid by the Benbrack project is another important milestone in SDIC Power's efforts to deeply cultivate the European clean energy market, which is conducive to improving the level of optimized management of the existing projects.

[Category: Energy Equipment & Services, Energy, Renewable Energy, Procurement and Sales]

Source: State Development and Investment Group Co., Ltd.