22nd Nov 2018 13:04
LONDON (Alliance News) - The Office of Gas and Electricity Markets said Thursday that it has selected a consortium comprising of HICL Infrastructure Co Ltd to as the preferred bidder to own and operate the transmission link to the Galloper offshore wind farm for the next 20 years.
Diamond Transmission Partners, which also comprises of Mitsubishi Corp, was selected by Ofgem through a tender process. The Galloper wind farm, located off the coast of Suffolk, England, consists of 56 six megawatt turbines and has a capacity of 353MW.
The initial estimated value of the transmission assets is GBP329.1 million. Once the final value of the assets has been agreed by Ofgem, Diamond Transmission will pay the amount to the developer of the windfarm and transmission link.
Shares in infrastructure investment company were broadly flat at 158.84 pennce each on Thursday afternoon.
Related Shares:
HICL Infrastructure