Ofgem chooses preferred bidder for link to Race Bank Wind Farm

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Ofgem chooses preferred bidder for link to Race Bank Wind Farm

This day Ofgem has chosen Diamond Transmission Companions as essentially the most well-most traditional bidder to possess and operate the excessive voltage transmission hyperlink to the Breeze Bank offshore wind farm for the next twenty years.

Diamond Transmission Companions, a consortium comprising Mitsubishi Company and HICL Infrastructure Firm Minute, became as soon as chosen by Ofgem by a fragile process by which bidders compete to turn into Offshore Transmission Owners (OFTOs).  

The Breeze Bank wind farm, situated 27km off the soar of Norfolk, contains ninety one six megawatt (MW) generators and has a ability of 573MW. It is a ways now operational and can originate ample vitality for over 500,000 UK properties.

The developer of the windfarm and the hyperlink is a consortium comprising Ørsted, Macquarie European Infrastructure Fund 5, Macquarie Capital, and Sumitomo Company. The consortium’s preliminary estimated price of the transmission assets is £530.four million.* Once the final price of the assets has been agreed by Ofgem, essentially the most well-most traditional bidder would pay this quantity to the developer as soon as the bidder’s OFTO licence has been granted.

Since Ofgem and Authorities launched the OFTO regime in 2009 winning bidders possess to this level invested £Three billion in hyperlinks and generation assets which possess linked four.6GW of offshore wind farms. Tendering possession of these hyperlinks by the regime continues to minimize the worth of connecting offshore wind. As a minimal £700m in savings had been executed for patrons to this level across the principle three delicate rounds.

Notes to editors

* This figure is enviornment to Ofgem’s ongoing price evaluation process, with a remaining switch price of the transmission assets being published as fraction of the licence grant process.

  1. The reserve bidder for the mission is Equitix.
  2. The offshore regulatory regime became as soon as developed by the Division for Alternate, Energy and Industrial Technique (formerly the Division of Energy and Local climate Alternate) and Ofgem, and became as soon as launched in 2009. The regime is for licensing offshore electricity transmission and uses competitive tendering to be clear lower prices and better standards of transmission products and companies for generators and within the raze, patrons.
  3. The Breeze Bank wind farm hyperlink is fraction of delicate round 5 which began in 2016. The a huge range of hyperlinks are to the Dudgeon, Galloper, Walney Extension and Rampion wind farms. The invitation to delicate levels for Galloper and Walney Extension are at this time running and must serene be followed by Rampion.
  4. Study the Expert Public Conception for the appointment of Diamond Transmission Companions as essentially the most well-most traditional bidder to possess and operate the hyperlink to the Breeze Bank wind farm.
  5. For extra files on the OFTO regime, survey Offshore transmission tenders.

Extra files

For media, contact

Chris Lock: 0207 901 7225

Media out of hours cell: 07766 511470 (media calls supreme)

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