Denmark – Hornsea 1 Limited, a joint venture owned by Ørsted(50%) and Global Infrastructure Partners (GIP)(50%), reported that it has reached an agreement to sell its transmission assets to Diamond Transmission Partners Hornsea One Limited (DTP).
Transmission reserves have an equity valuation of £1,175 billion. The facilities include an onshore substation, an export cable, an offshore reactive compensation substation (RCS) and three offshore substations.
Divestment shall take effect in compliance with the offshore transmission owner (OFTO) scheme. In February 2020, after an open auction, Ofgem chose DTP as the preferred bidder for an offshore transmission license for the Hornsea 1 Offshore Wind Farm.
Ørsted will supply DTP with operations and maintenance services for the transmission of properties under a long-term arrangement. Hornsea 1 is an offshore wind farm in the United Kingdom, situated about 120 km off the coast of Yorkshire. The wind farm consists of 174 Siemens Games 7 MW wind turbines with a total capacity of 1,218 MW, enough to fuel more than one million British homes.