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Tuesday, April 7, 2020

Maritime Logistics Professional

February 25, 2020

Galloper Signs Diamond OFTO Deal

Image: Galloper Offshore Wind Farm

Image: Galloper Offshore Wind Farm

UK-based Galloper Wind Farm Ltd has agreed the sale of its transmission assets to Diamond Transmission Partners, which  invests in offshore transmission systems as an Offshore Transmission Owner (OFTO).

The 353MW Galloper Wind Farm is owned by innogy SE, Siemens Financial Services, Sumitomo Corporation and ESB and a consortium managed by Green Investment Group and Macquarie Infrastructure and Real Assets. innogy led the project’s development and construction and operates it on behalf of the project partners.

The transmission assets included in the sale comprise the Galloper offshore substation, two subsea export cables, and the Galloper onshore substation.

The divestment takes place in accordance with the Offshore Transmission Owner (OFTO) regime. In November 2018, following a competitive tender, Ofgem selected Diamond Transmission Partners (DTP) as preferred bidder for the transmission license for Galloper Wind Farm.

Guy Middleton, Galloper General Manager said: “The offshore transmission regulatory regime is competitive and allows generators to be partnered with the most efficient companies in the market. I’m delighted to have concluded the deal with DTP, one of the market leaders in OFTO operations, and look forward to our positive relationship continuing into operations.”

Galloper Offshore Wind Farm is a 353MW project located 27km off the coast of Suffolk. The wind farm represents an investment of around £1.5 billion. It is estimated that the average annual generation expected at the site will be equivalent to the approximate domestic needs of more than 380,000 average UK households.

Sumitomo CorporationUnited Kingdommacquarie infrastructure and real assets