Friday, July 3, 2020

Walney Extension Sells Transmission Assets

June 2, 2020

Walney Extension Offshore Wind Farm - Credit: Ørsted

Walney Extension Limited, a joint venture owned by Ørsted (50%), PKA (25%) and PFA (25%), and the operator of the Walney Extension offshore wind farm in the UK, has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Walney Extension.

Diamond Transmission Partners Walney Extension is a partnership between Diamond Transmission Corporation Limited (a Mitsubishi Corporation subsidiary), HICL Infrastructure Company Limited and Chubu Electric Power Co., Inc.

The transmission assets hold an asset value of GBP 447 million (USD 560 million). The assets include the onshore substation, export cables, and the offshore substations.

"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," Ørsted said Tuesday.

Walney Extension is a UK offshore wind farm located approximately 19km from the Walney Island coast in Cumbria and operated from Ørsted's West Coast Hub in Barrow. 

Walney Extension, one of the world's largest offshore wind farms, consists of 40 8MW MHI-Vestas offshore wind turbines and 47 7MW Siemens Gamesa offshore wind turbines, a total capacity of 659MW, enough to power nearly 600,000 UK homes.

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