4C Offshore Empowering Intelligence

DTP acquires Hornsea One transmission assets

4C Offshore | Tom Russell
By: Tom Russell 04/03/2021 Ørsted
Ofgem has awarded a licence for the grid link to the world’s largest offshore wind farm, Hornsea Project One.

Diamond Transmission Partners (DTP), a consortium led by Mitsubishi Corporation, the Japanese industrial group, was selected by Ofgem to own and operate the offshore transmission system linking the wind farm to the British mainland.

Hornsea 1 Limited, a joint venture owned by Ørsted (50 %) and Global Infrastructure Partners (GIP) (50 %), has now signed an agreement for the sale of its transmission assets to DTP.  

The transmission assets hold an asset value of GBP 1.175 billion. The assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS), and three offshore substations.

The transmission assets for were tendered under the sixth round of Ofgem's OFTO regime. Under the regime, bidders compete to buy these links from the wind farm developer. In return the winning bidder receives a guaranteed level of income which is set by Ofgem for running the link for up to 25 years.


Ofgem has awarded 21 licences through this process, with a total of £5.7 billion being invested in grid links for 7.8GW of offshore wind capacity.

Rebecca Barnett, deputy director for commercial and assurance at Ofgem, said: “Today’s record investment demonstrates the appetite of global investors to support the UK’s transition to net zero emissions.
“Ofgem’s regulatory framework ensures that this investment can be attracted at the lowest possible cost, saving consumers hundreds of millions of pounds on their energy bills.”


Developed by Danish energy giant Ørsted,
Hornsea Project One is the world’s largest offshore wind farm to date. It is located in the North Sea off the east coast of England. The site consists of 174 Siemens Gamesa Renewable Energy. SWT-7.0-154 turbines, spanning across an area of 407km2, all of which have been installed. The site was fully commissioned at the end of 2019 and is anticipated to power over one million homes in the UK.

Ørsted will provide DTP with operations and maintenance services for the transmission assets under a long-term agreement.


For more information on offshore wind farms worldwide, click here.

Premium

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

Request a 30 minute Demo

Trending News!