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United Kingdom

United Kingdom

Ofgem selects 2GW offshore transmission bids

UK: Balfour Beatty Capital, Macquerie Capital and Transmission Capital Partners have won bids to own and operate transmission links to 2GW of offshore wind farms.

The UK hopes to create high voltage links for around 50GW of offshore projects including this one planned for Dogger Bank
The UK hopes to create high voltage links for around 50GW of offshore projects including this one planned for Dogger Bank

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.

Project Winning bidder
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.

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