Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure and Transmission Investment has been appointed as preferred bidder for the long-term license and operation of a further offshore transmission project.
The latest scheme, comprising the transmission cable connection to Dudgeon offshore wind farm represents the seventh such project that Transmission Capital Partners has been appointed to, as preferred bidder. The company expects to invest approximately £50 million, with financial close estimated in the second quarter of 2018.
The project relates to the transmission cable connection to the offshore wind farm located 32km off the coast of Cromer in North Norfolk. The windfarm consists of 67 x 6MW wind turbine generators with an installed capacity of 402MW connected to the offshore substation platform (OSP) located within the boundaries of the Dudgeon wind farm.
The company takes no exposure to electricity production or price risk but is paid a pre-agreed, availability-based revenue stream over 20 years which is fully linked to UK inflation (‘RPI’).
The offshore wind farm connected by this transmission project is owned by affiliates of Statoil ASA (35%), Masdar (35%), and Statkraft AS (30%).