Construction News

Fri April 23 2021

Related Information

Macquarie and 3i secure £269m OFTO deal

24 Aug 15 Electricity industry regulator Ofgem has granted West of Duddon Sands (WoDS) Transmission plc a licence to own and operate the £269m transmission link to the West of Duddon Sands offshore wind farm.

WoDS Transmission is owned by Macquarie and 3i Infrastructure. It won the bid to own and operate the link for the next 20 years.  WoDS offshore wind farm, located in the East Irish Sea approximately 14km off Walney Island, Cumbria, comprises 108 turbines with an installed capacity of 389MW.

WoDS becomes the fourth and final offshore transmission owner (OFTO) project to reach financial close and licence grant in tender round two of the regime. The second tender round has delivered £1.4bn of transmission assets, connecting 1.9GW of offshore wind.

Ofgem chief executive Dermot Nolan said: “With the licence granted for West of Duddon Sands, the OFTO regime has attracted over £2.5bn of new investment into the UK transmission sector to date. The regulatory frameworks devised by Ofgem are key to attracting the new investment needed to extend grid networks to connect renewable energy projects, and to enable planned interconnectors with European partners to be built. This model is helping drive down costs for consumers.”

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view more construction news »