4C is now TGS

We are excited to announce a significant milestone in 4C Offshore's journey. Our integration into the TGS family marks the beginning of a new era in offshore wind market intelligence.

Learn what this means for you!

Agreement inked for Race Bank transmission assets

By: Tom Russell 10/10/2019 Ørsted

General Substations Windfarms

Race Bank Wind Farm Limited has signed an agreement for the sale of transmission assets for the Race Bank offshore wind farm to Diamond Transmission Partners. The transmission assets hold a value of £472.5 million and includes the onshore substation, export cables and the offshore substation.

Diamond Transmission Partners is a 50:50 partnership between Diamond Transmission Corporation Limited (a wholly owned subsidiary of Mitsubishi Corporation) and HICL Infrastructure PLC.

Race Bank Wind Farm Limited a joint venture owned by Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), a fund established by Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Development Bank of Japan (12.5%) and Arjun Infrastructure Partners and Gravis Capital Management (12.5%).

The divestment takes place in accordance with the offshore transmission owner (OFTO) regime run by The Office of Gas and Electricity Markets (Ofgem). In June 2018, following a competitive tender, Ofgem selected Diamond Transmission Partners as preferred bidder for the Race Bank offshore transmission license.

As the OFTO for the Race Bank offshore wind farm, Diamond Transmission Partners RB Limited is responsible for transmission of electricity from this wind farm to the UK's onshore National Electricity Transmission System.

The Race Bank wind farm, located 27km off the coast of Norfolk, consists of 91 Siemens Gamesa 6MW turbines and has a capacity of 573MW. It was fully commissioned in February 2018 and can produce enough power for over 500,000 UK homes.
For more information on offshore wind farm grid connection systems, click here.

Premium

4C Offshore Premium, our most popular subscription, gives you full access to use the 4C Offshore WebApp which includes exclusive offshore wind, transmission and vessel reports, news and downloads.

Request a 30 minute Demo

Agreement inked for Race Bank transmission assets

Back to News

Trending News!