Walney Extension Limited has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Walney Extension.
The transmission assets hold an asset value of £ 447 million. The assets include the onshore substation, export cables, and the offshore substations at the 659 MW Walney Extension wind farm in the Irish Sea.
Walney Extension Limited joint venture is owned by Ørsted (50%), PKA (25%), and PFA (25%).
Diamond Transmission Partners Walney Extension is a partnership between Diamond Transmission Corporation Limited, a wholly-owned subsidiary of Mitsubishi Corporation, HICL Infrastructure Company Limited and Chubu Electric Power Co., Inc.
The divestment takes place in accordance with the offshore transmission owner (OFTO) regime.
In March 2019, following a competitive tender, Ofgem selected Diamond Transmission Partners Walney Extension as preferred bidder for the Walney Extension offshore transmission licence.
Located approximately 19 kilometres from the Walney Island coast in Cumbria and operated from Ørsted’s West Coast Hub in Barrow, Walney Extension consists of 40 8 MW MHI Vestas and 47 7 MW Siemens Gamesa offshore wind turbines which have been in full operation since September 2018.