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Ofgem selects preferred bidder for Walney Extension link

Walney Extension turbines at sunset. Source: ├śrsted A/S

March 14 (Renewables Now) - UK energy regulator Ofgem announced today it has chosen the Diamond Transmission Partners (DTP) consortium as the preferred bidder to own and operate the offshore transmission link to the 659-MW Walney Extension wind farm in the Irish Sea.

Diamond Transmission Partners comprises HICL Infrastructure Company Ltd (LON:HICL), Diamond Transmission Corporation Ltd, which in turn is a unit of Japan’s Mitsubishi Corp (TYO:8058), and Chubu Electric Power Co Inc (TYO:9502).

This is the fourth successful bid by the partnership in tenders that are part of the offshore transmission owner (OFTO) regime. It was also previously chosen to own and operate the links to the 258-MW Burbo Bank Extension, 573-MW Race Bank and 353-MW Galloper wind parks.

HICL said separately it estimates the consideration for its 40% share of the economic interest in the Walney OFTO at about GBP 23 million (USD 30m/EUR 27m). The infrastructure investor expects the acquisition to be completed towards the end of the year.

(GBP 1.0 = USD 1.323/EUR 1.170)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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