Ofgem sets tender date for round 7 assets

In: Windfarms
13/11/2020
Ofgem has announced that it intends to commence a tender for the offshore transmission assets of the Triton Knoll and Moray East offshore wind farms on 30 November 2020.

The assets are being tender under Ofgem's Offshore Transmission Owner (OFTO) regime in Tender Round Seven (TR7). Potential OFTOs bid to purchase the transmission assets from the developer and then finance and maintain the assets over a twenty-year revenue stream period. Ofgem expects the OFTO transmission assets in TR7 to be worth in excess of £1.3 billion.

With a commercial operation date expected in the first quarter 2022,
Triton Knoll will have an installed capacity of 857 MW, capable of supplying green electricity equivalent to the annual demand of over 800,000 UK homes. It is located over 32 kilometres off the Lincolnshire coast. It is jointly owned by RWE (59%), J-Power (25%) and Kansai Electric Power (16%), with RWE leading the wind farm’s construction and long-term operation and maintenance works, on behalf of the project partners. The total planned investment amounts to approximately £2 billion.

Triton Knoll was awarded a Contract for Difference (CfD) by the UK Department for Business, Energy & Industrial Strategy in September 2017. A Power Purchase Agreement (PPA) with Ørsted, under which the company will offtake 100% of the power produced by the wind farm, complements Triton Knoll’s CfD, mitigating any market price uncertainty for the first 15 years of the wind farm’s operation.

Located 22 km off the coast of Scotland, the 950 MW
Moray East project is the first of two wind farms to be developed in the Outer Moray Firth Zone. Development is being led by a joint venture between Diamond Green Limited (33.4%), EDPR (33.3 %), ENGIE (23.3%) and CTG (10%). The project secured a Contract for Difference of £57.50/MWh from the UK Government in 2017. It will feature 100 MHI Vestas V164-9.5 MW turbines and three offshore substations which are to be installed around 22km from the coast in the Moray Firth, Scotland.

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