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The consortium comprising Equitix, Balfour Beatty Investments, and AMP Capital, have reached financial close on the GBP 317 million Greater Gabbard offshore transmission project.
Each holds a one third share of the project. Greater Gabbard is the largest of nine assets tendered by OFGEM in the first round of offshore transmission owner (OFTO) procurement and represents Equitix's inaugural investment into Ofgem's offshore transmission regime. The Greater Gabbard OFTO is the high-voltage transmission system which connects the 504MW Greater Gabbard Wind Farm located off the coast of Suffolk to the onshore transmission grid. The debt is being financed by a publicly listed bond which has been successfully launched.
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