Published: 10 September 2013 10 September 2013
London Array, a joint venture owned by DONG Energy (50%), E.ON (30%) and Masdar (20%), have announced that it has signed an agreement for the sale of transmission assets at the offshore wind farm to Blue Transmission London Array Limited with an asset value of GBP 459 million.
The divestment is expected to close later this month. Blue Transmission London Array Limited is the licensee entity incorporated by the consortium of Barclays Infrastructure Funds Management Limited and Diamond UK Transmission Corporation (a wholly owned subsidiary of Mitsubishi Corporation), advised by Macquarie Capital. London Array has been selected by Blue Transmission London Array Limited to provide operations and maintenance services to the transmission link connecting the London Array Offshore Wind Farm to the onshore grid. DONG Energy has previously entered into agreements for divestment of the transmission assets for Walney 1, Walney 2, Barrow, and Gunfleet Sands Offshore Wind Farm.