Monday 3 October 2016

Ofgem to offer 2.3GW offshore wind links

Ofgem to offer 2.3GW offshore wind links

Ofgem’s tender for 2.3GW of offshore wind links will open later this month.

The regulator will start the fifth tender round for offshore transmission owners (OFT) on the 10th of October, when companies will bid to own and operate the transmissions links to five offshore wind farms.

They have an estimated total value of £2 billion. Ofgem claims it is the biggest tender round so far.

The regulator will choose the most competitive bids from firms to own and run links to the offshore sites for a 20 year period.

The five offshore windfarms for which transmission links are offered are Dudgeon, Galloper, Race Bank, Rampion and the Walney Extension.

The launch of the fifth round follows Ofgem's announcement of the final bidders to own and run the £230 million transmission link for the Burbo Bank Extension offshore windfarm.

Jonathan Brearley, Senior Partner, Networks at Ofgem, said: "Since the launch of the OFTO regime, the first three tendering rounds have delivered £700 million in savings and have attracted over £3 billion in investment value.

"By providing the opportunity for investors to now participate in the tendering of over £2 billion of assets in the next round, it should ensure the delivery of further value for consumers and contribute to reducing the overall cost of offshore wind.”

Written by

Bruna Pinhoni

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