Vattenfall has sold the transmission assets of its 150MW Ormonde offshore wind farm to Transmission Capital Partners (TCP) for a total cost of £103.9m.
The Ormonde Offshore wind farm located in the Irish Sea 10km off Barrow-In-Furness consists of 30 units of REpower 5MW wind turbines to produce 500 gigawatt hours of electricity every year and powering over 100,000 UK homes.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The deal will transfer 42km export cable and substations from the wind farm to TCP after it was assessed and granted by Ofgem, a regulator of UK electricity and gas markets, under a process known as Offshore Transmission Owner (OFTO).
Vattenfall UK operations manager Peter Wesslau said the OFTO transaction is the company’s first to be completed in the UK and it has reached financial close with TCP.
"Ormonde Offshore Wind Farm is a cutting edge scheme which provides a glimpse into the future of offshore wind," Wesslau added.
"Vattenfall completed the installation of the export cable in April last year and we believe that we were the first in the UK to simultaneously lay and bury a cable of that length and size in one uninterrupted operation."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTCP will own and operate the subsea export cable and the wind farm’s onshore and offshore substations for 20 years under a licence granted by Ofgem.
Vattenfall is a European energy company and TCP is a UK based independent transmission company.
