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Sale of Hornsea 2 transmission assets

Friday, July 21 2023

Wind Energy – Transmission Assets

Breesea, Soundmark Wind, and Sonningmay Wind, a joint venture owned by Ørsted (50 %) and AXA IM Alts and Crédit Agricole Assurances (CAA) (jointly 50 %), today announced that they have signed an agreement on the sale of their transmission assets to Diamond Transmission Partners Hornsea Two (DTP).

DTP is a partnership between Diamond Transmission Corporation and HICL Infrastructure PLC.

The divestment takes place in accordance with the offshore transmission owner (OFTO) regime. In September 2022, following a competitive tender, Ofgem selected DTP as preferred bidder for the offshore transmission licence for the Hornsea 2 Offshore Wind Farm.

The transmission assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS) and the offshore substation and have been assessed by Ofgem at a value of GBP 1.141 billion.

Ørsted will provide DTP with operations and maintenance services for the transmission assets under a long-term agreement.

Related posts:

  1. Neptune, Ørsted and Goal7 explore powering energy hubs with offshore wind
  2. PSEG sells 25% equity interest Ocean Wind 1 to Ørsted
  3. Ørsted uses giant drones above Hornsea 1
  4. Ørsted takes full ownership of Sunrise Wind

Filed Under: Hornsea, International projects, Orsted, transmission assets Tagged With: Hornsea Two, Orsted, transmission assets

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