This is the largest offshore transmission project to have reached this stage; the estimated value of the assets is £428 million. The London Array (Phase 1) wind farm, located in the Thames estuary, has a capacity of 630 MW.
Blue Transmission, a consortium comprising Macquarie Capital Group Limited, Barclays Infrastructure Funds Management Limited (acting in its capacity as manager of Barclays Integrated Infrastructure Fund), Mitsubishi Corporation and Frontier Power Limited, was selected by Ofgem E-Serve through a competitive process in which bidders compete to become offshore transmission owners (OFTOs).
“Competitive tendering for the ownership of offshore power links is attracting new investment into the GB energy sector at a time of tough financial market conditions," said Robert Hull, Ofgem E-Serve Managing Director, Commercial. " The competitive regime developed by the Department of Energy and Climate Change (DECC) and Ofgem ensures the costs to consumers for the high voltage links are kept as low as possible.”
The London Array (Phase 1) wind farm project is owned by a consortium of Dong Energy, E.ON and Masdar.
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