Published: 03 June 2020 03 June 2020
Walney Extension, a joint venture owned by Ørsted (50%), PKA (25%) and PFA (25%), have announced that it has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Walney Extension.
Diamond Transmission Partners Walney Extension is a partnership between Diamond Transmission (a wholly owned subsidiary of Mitsubishi), HICL Infrastructure Company and Chubu Electric Power. The transmission assets hold an asset value of GBP 447m (100%). The assets include the onshore substation, export cables, and the offshore substations. The divestment takes place in accordance with the offshore transmission owner ('OFTO') regime. In March 2019 Ofgem selected Diamond Transmission Partners Walney Extension as preferred bidder for the Walney Extension offshore transmission licence. Walney Extension is a UK offshore wind farm located approximately 19km from the Walney Island coast in Cumbria and operated from Ørsted's West Coast Hub in Barrow. Walney Extension consists of 40 8MW MHI-Vestas offshore wind turbines and 47 7MW Siemens Gamesa offshore wind turbines, a total capacity of 659MW.