Ofgem has granted a licence to TC Dudgeon OFTO plc to own and operate the GBP 297.9 million high-voltage transmission link to the Dudgeon offshore wind farm for the next 20 years.
Transmission Capital Partners, a consortium comprising International Public Partnerships Limited, Amber Infrastructure Group and Transmission Investment, was selected by Ofgem through a tender process in which bidders compete to become Offshore Transmission Owners (OFTOs).
The Dudgeon wind farm is the first project from the fifth tender round of the regime for which Ofgem has granted an OFTO licence. It is located off the coast of Cromer, Norfolk and has a capacity of 402MW.
As part of the tender process, TC Dudgeon OFTO plc agreed to purchase the link and transmission assets from a consortium comprising Equinor ASA, Masdar and China Resources (Holdings) Co. Ltd which also owns the Dudgeon offshore wind farm.
Ofgem and the UK government launched the OFTO regime in 2009. At least GBP 700m in savings were achieved for consumers across the first three tender rounds, Ofgem said.
Since 2009, winning bidders have so far invested more than GBP 3.3bn in links and generation assets which have connected more than 5GW of offshore wind farms.