UK gas and electricity markets regulator Ofgem has selected Diamond Transmission Partners (DTP) for the high-voltage transmission link to the Galloper offshore wind farm.
DTP, which is a consortium comprising Mitsubishi Corporation and HICL Infrastructure Company, will own and operate the link for the next 20 years.
The consortium has been selected through a tender process, which allows bidders to compete to become Offshore Transmission Owners (OFTO).
Located 30km off the coast of Suffolk, Galloper is a 353MW wind farm, which is equipped with 56 6MW turbines. Innogy is the developer of the wind farm and the transmission link.
The Galloper offshore wind farm commenced its operations in March this year, and has the potential to generate power for more than 380,700 average homes in the UK.
A consortium of Innogy, Siemens Financial Services, Sumitomo, ESB and a consortium managed by Green Investment Group and Macquarie Infrastructure and Real Assets own the wind farm.
The initial estimated value of the transmission assets quoted by the consortium is £329.1m.
The amount will be paid by the winning bidder to the developer after Ofgem agrees to the final value of the assets and grants the bidder’s OFTO licence.
Since the launch of OFTO regime in 2009 by the government and Ofgem, bidders are said to have invested more than £3.3bn in transmission links and generation assets.