Agreement for the sale of Walney Extension transmission assets

Source: press release, 2 June 2020

Walney Extension Offshore Wind Farm
Walney Extension Offshore Wind Farm (photo: Ørsted)

Walney Extension Limited, a joint venture owned by Ørsted (50%), PKA (25%) and PFA (25%), has 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 Corporation Limited (a wholly owned subsidiary of Mitsubishi Corporation), HICL Infrastructure Company Limited and Chubu Electric Power Co., Inc.

The transmission assets hold an asset value of GBP 447 million (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, following a competitive tender, 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 19 kilometres from the Walney Island coast in Cumbria and operated from Ørsted’s West Coast Hub in Barrow. Walney Extension consists of 40 8-MW MHI-Vestas offshore wind turbines and 47 7-MW Siemens Gamesa offshore wind turbines, a total capacity of 659 MW, enough to power nearly 600,000 UK homes.