Ofgem Picks Race Bank OFTO

Ofgem has chosen Diamond Transmission Partners as the preferred bidder to own and operate the high voltage transmission link to Ørsted’s Race Bank offshore wind farm for the next 20 years.

The initial estimated value of the transmission assets is GBP 530.4 million and once Diamond Transmission Partners’ Offshore Transmission Owners (OFTO) license is granted, the bidder will pay the final value Ofgem agrees on to the developer.

The appointment of the consortium of Mitsubishi Corporation and HICL Infrastructure Company Limited as the preferred bidder follows a tender, in which Equitix was selected as the reserve bidder for the project.

Winning bidders have since the launch of the OFTO regime in 2009 invested GBP 3 billion in links and generation assets which have connected 4.6GW of offshore wind farms, Ofgem said, adding that at least GBP 700 million in savings has been achieved for consumers across the first three tender rounds.

The 573MW Race Bank wind farm comprises 91 6MW Siemens Gamesa turbines located 27km off the coast of Norfolk, UK. The offshore wind farm was officially opened earlier this month by Ørsted and project partners Macquarie and Sumitomo.