Buchan's 2017 Operations
Both Auchtygills and Clayfords achieved full accreditation during 2016 for the government’s guaranteed 20-year Feed In Tariff (FIT) pricing support and are unaffected by changes announced subsequently to renewable energy support mechanisms. These changes will have an impact on future/new projects which are yet to qualify for support.
The two wind turbines generated 4,427,593 kWh of electricity in 2017, a 6.7% increase on 2016 output. Average operational availability across the two sites was 99%, which is in line with operational targets. Whilst wind levels were marginally higher in 2017 than 2016, average wind speeds remained below the long term projections.
Both projects continue to benefit from 20 years of Government backed Feed in Tariff income which currently represents 64% of their revenues. The Directors of Thrive Renewables (Buchan) Limited remain confident that despite the change in support for ‘new’ projects, the Government will honour the financial support for which the projects are qualified.
Each project benefits from two sources of revenue, the Feed in Tariff and the wholesale electricity price. The Feed in Tariff component is adjusted in line with inflation annually. The Feed in Tariff on both projects was £84.80/MWh for the year April 2017 to March 2018, and £88.30/MWh for the year starting April 2018. Throughout 2017 the projects benefited from the improved fixed export electricity price which was secured in 2016. The business will continue to monitor opportunities to secure higher export prices throughout 2018.
The civil engineering and electrical agreements upon which the site was constructed provide a warranty period. The civil and electrical infrastructure inspections conducted in 2017 confirmed that the condition of the sites is satisfactory.