On 31 January, the Board of Directors of the European Investment Bank (EIB) approved more than EUR 7.8 billion of new financing which, inter alia, includes EUR 57 million (GBP 50 million) for the offshore transmission network of the Burbo Bank Extension offshore wind farm in the UK.
The amount will support financing of the EUR 272 million Burbo Bank Extension offshore transmission network being competitively tendered under the Round 4 of the UK regulatory regime OFTO (Offshore Transmission Owner).
UK’s energy market regulator Ofgem launched the OFTO Tender Round Four (TR4) on 7 April 2016. In September 2016, Ofgem announced that it had shortlisted five bidders for the transmission link: Balfour Beatty Equitix Consortium, Dalmore Capital Limited, Diamond Transmission Partners, Mari Energy Transmission, and Transmission Capital Partners.
Details on the preferred bidder for the Burbo Bank Extension project are expected to be announced in April of this year.
The 258MW wind farm off the coast of Liverpool, UK represents the first offshore project to utilise MHI Vestas’ 8MW turbines.
Burbo Bank Extension produced first power at the end of November 2016 and the wind farm is scheduled to be fully commissioned soon.
Offshore WIND Staff