- Published: 22 October 2019 22 October 2019
Race Bank Wind Farm, a joint venture owned by Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), a fund established by Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Development Bank of Japan (12.5%) and Arjun Infrastructure Partners and Gravis Capital Management (12.5%), have announced that it has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners.
Diamond Transmission Partners is a 50:50 partnership between Diamond Transmission Corporation a wholly owned subsidiary of Mitsubishi Corporation) and HICL Infrastructure.
The transmission assets hold an asset value of GBP472.5 million. The assets include the onshore substation, export cables and the offshore substation. Race Bank is a UK offshore wind farm located approx 17 miles off the UK east coast and operated from Ørsted’s East Coast Hub in Grimsby. Race Bank consists of 91 Siemens Gamesa 6MW offshore wind turbines and has a total capacity of 573MW.