Equitix, TEPCO Wrap Up Triton Knoll OFTO Deal

Business & Finance

December 6, 2023, by Adnan Memija

Equitix and Tokyo-based TEPCO Power Grid (TEPCO PG) have reached financial close on the approx. GBP 600 million Triton Knoll Offshore Electricity Transmission (OFTO) project.

The Triton Knoll OFTO Transmission Assets include two offshore substations, two 220 kV subsea export cable circuits (approximately 50km in length), which connect to two onshore cable circuits (of approximately 57km in length), one onshore substation, and two 400 kV export cable circuits connecting the onshore substation to the National Grid Bicker Fen onshore substation.

Equitix will be the 80 per cent majority shareholder in the project, with TEPCO PG owing the remaining 20 per cent.

The consortium will own and operate the offshore transmission link to the Triton Knoll wind farm for the next 23 years.

Electricity Distribution Services, part of the James Fisher & Sons group, will be responsible for the operation and maintenance of the OFTO transmission assets.

The Triton Knoll wind farm comprises 90 turbines with a maximum installed capacity of 857 MW, equivalent to generating enough renewable power for 800,000 UK homes, according to Equitix.

Project developers were led by RWE Renewables, with J-Power and Kansai.