TEMPUS

SSE wind farms take market by storm

Projects with high subsidies like Beatrice in the Moray Firth now look very lucrative
Projects with high subsidies like Beatrice in the Moray Firth now look very lucrative
ALAMY

Eight miles off the Caithness coast in the Moray Firth, SSE has just installed the 84th and final turbine of the Beatrice offshore wind farm (Emily Gosden writes). When the £2.6 billion, 588-megawatt project is fully running this summer, it should generate enough electricity to power 450,000 homes — and enough cash to make a healthy return for the energy group.

In 2014, the government awarded a contract guaranteeing SSE an inflation-linked price of £140 for every megawatt-hour (MWh) of electricity that Beatrice generates — more than £158 in today’s money, or roughly treble present market prices. The project, of which SSE owns 40 per cent, could be in line for £250 million a year in subsidies.

Shortly before it won the contract, SSE had