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    CNA   GB00B033F229

CENTRICA PLC

(CNA)
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Dogger Bank in long-term wind power deal with Danske Commodities, Shell and Centrica

11/24/2021 | 09:57am EST

COPENHAGEN/LONDON (Reuters) - Britain's Dogger Bank, which is expected to become the world's largest wind farm, has secured long-term deals with Danish energy trading company Danske Commodities, oil major Shell and utility Centrica for electricity from its final stage.

Located off the northeast coast of England, Dogger Bank is being developed in A, B and C stages which will have a combined capacity of 3.6 gigawatts (GW) of electricity, able to supply around 6 million homes when they are completed in 2026.

Under the 15-year power purchase agreements (PPA) announced on Wednesday, Danske Commodities will be responsible for trading 480 megawatts from the C project. It already has PPAs with the Dogger Bank A and B projects for 480 megawatts (MW)

Shell Energy Europe will be responsible for 240 MW of capacity, or 20%, as will Centrica Energy Marketing and Trading. SSE's Energy Supply Limited has signed a PPA for the remaining 20% of the Dogger Bank C power.

Dogger Bank C is a joint venture between Equinor and SSE Renewables, with ENI set to get a 20% stake by the first quarter next year, Danske Commodities said.

"We're proud to be selected as an offtaker for all three Dogger Bank projects," Tor Mosegaard, Danske Commodities' Head of European Power Trading, said.

(Reporting by Nikolaj Skydsgaard in Copenhagen and Susanna Twidale in London, Editing by Louise Heavens and Alexander Smith)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CENTRICA PLC -0.78% 74.1 Delayed Quote.4.45%
ENI S.P.A. 0.40% 13.212 Delayed Quote.7.69%
EQUINOR ASA -1.82% 251.15 Real-time Quote.8.44%
SSE PLC 0.79% 1589 Delayed Quote.-4.40%
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Financials
Sales 2021 15 961 M 21 781 M 21 781 M
Net income 2021 363 M 495 M 495 M
Net Debt 2021 729 M 994 M 994 M
P/E ratio 2021 11,3x
Yield 2021 2,55%
Capitalization 4 314 M 5 891 M 5 887 M
EV / Sales 2021 0,32x
EV / Sales 2022 0,29x
Nbr of Employees 19 711
Free-Float -
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Technical analysis trends CENTRICA PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 74,68 GBX
Average target price 78,75 GBX
Spread / Average Target 5,45%
EPS Revisions
Managers and Directors
Christopher OĺShea Group Chief Executive Officer & Executive Director
Katherine Beresford Ringrose Group Chief Financial Officer & Executive Director
Jonathan Scott Wheway Chairman
Chetan Ghosh Chief Investment Officer
Stephen Alan Michael Hester Senior Independent Director
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