The tender process, which was run by state regulator Ofgem, is worth £700million and covers seven wind farms. The scheme is part of the UK’s aim to develop high-voltage links for around 50GW of offshore projects.
|Barrow (90MW)||Transmission Capital|
|Gunfleet Sands (164MW)||Transmission Capital|
|Robin Rigg (180MW)||Transmission Capital|
|Sheringham Shoal (315MW)||Macquarie Capital|
|Thanet (300MW)||Balfour Beatty Capital|
|Walney 1 (178MW)||Macquarie Capital|
|Walney 2 (183MW)||Macquarie Capital|
Speaking about the deal, Ofgem chief executive Alastair Buchanan said: ""Attracting almost £4 billion of investment appetite in today’s capital markets, following the financial crisis, shows how an Ofgem-run competitive regime for regulated revenue streams can prove very effective at attracting investment.
"By ensuring companies have to compete for this regulated revenue stream, we have been able to keep costs to consumers and wind farm developers as low as possible, delivering forecast savings of £350 million compared to equivalent onshore transmission costs."
UK energy minister Charles Hendry said new investment of around £75billion-to-£100billion is required to fund the government’s ambition to generate 50GW from offshore wind by 2020.