Walney Extension, a joint venture owned by Ørsted (50%), PKA (25%) and PFA (25%), 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, HICL Infrastructure Company and Chubu Electric Power.
The transmission assets hold an asset value of £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 8MW MHI-Vestas offshore wind turbines and 47 7MW Siemens Gamesa offshore wind turbines, a total capacity of 659MW, enough to power nearly 600,000 UK homes.