SSE shares rose 0.7% after securing a 20-year contract for 1.4GW of offshore wind power from its Berwick Bank Wind Farm. The deal, part of the UK’s seventh Contracts for Difference (CfD) Allocation Round, guarantees a strike price of £89.49/MWh for 1,380MW. This government-backed revenue stream provides long-term certainty for the major renewable energy project.

The CfD mechanism protects developers from wholesale electricity price volatility, ensuring stable returns. SSE will now advance the project toward a final investment decision, expected in 2027. The company noted that phases A and C remain available for future auction rounds. The full 4.1GW project could become one of the world’s largest offshore wind installations if all phases proceed.

Chief Executive Martin Pibworth framed the contract as vital for meeting Scottish and UK government offshore wind targets. Securing this capacity helps London and Edinburgh pursue their ambitious clean energy goals while delivering homegrown power. Market reaction suggests investors view the deal as a key de-risking milestone. The upcoming eighth CfD round later this year will determine the fate of the remaining phases.