UK's energy regulator, Ofgem, on Friday said it has selected Transmission Capital Partners as the preferred bidder for the offshore transmission link to the 210-MW Westermost Rough wind farm.
Transmission Capital Partners, a consortium consisting of Transmission Capital Partners LP and International Public Partnerships Ltd (LON:INPP), has won the bidding to own and operate the transmission assets, worth an estimated GBP 172.3 million (USD 271.8m/EUR 238.3m), for the next 20 years.
INPP said in a separate statement it expects to invest around GBP 30 million upon financial close, which is expected in the final quarter of 2015.
The Westermost Rough wind farm is located off the cost of Yorkshire, eastern England. It is a joint venture between Danish utility Dong Energy A/S, which owns 50%, Japan's Marubeni Corp with 25% and the UK Green Investment Bank, also with 25%. The power link for the wind farm is currently being built by the joint venture behind the project. At the end of March, Dong announced the completion of turbine installation at the wind park.
The transmission assets for the plant are being tendered under Tender Round 3 of the offshore transmission regime. The round also includes the 220-MW Humber Gateway wind farm project. The regulator shortlisted bidders for the two projects in August last year and said it would appoint preferred bidders in 2015.
Ofgem noted that the Westermost Rough offshore transmission owner (OFTO) tender resulted in the lowest revenue bids, as a proportion of asset value, seen to date.
(GBP 1.0 = USD 1.577/EUR 1.383)
Choose your newsletter by Renewables Now. Join for free!