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Five bidders shortlisted for UK offshore transmission assets – S&P Global

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Five bidders shortlisted for UK offshore transmission assets
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London — Five bidders have been shortlisted in the UK’s latest Offshore Transmission Owner tender valued at GBP2.7 billion ($3.5 billion) to connect some 2.5 GW of offshore wind capacity, UK energy regulator Ofgem said Friday.
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The three links being tendered are to connect the Beatrice (588 MW), Hornsea One (1.2 GW) and East Anglia One (714 MW) wind farms.
“The shortlist demonstrates there continues to be strong competition to own and operate the links, helping to keep costs low for consumers,” Ofgem said.
The shortlisted bidders are:
**Aegir Energy Transmission (Macquarie Corporate Holdings Pty Limited and Frontier Power Limited)
**Core Transmission Partners (BBGI SICAV SA and Semco Maritime A/S); **Diamond Transmission Partners (Mitsubishi Corporation and Chubu Electric Power Co, Inc); **Equitix TEPCO Consortium (Equitix Limited and TEPCO Power Grid Incorporated); **and Transmission Capital Partners (International Public Partnerships Limited and Transmission Capital Partners Limited Partnership).
Winning OFTOs receive a guaranteed revenue stream for 25 years subject to availability of the assets.
A final invitation to tender is set to start shortly for Beatrice, followed by one in July for Hornsea Project One and one in February 2020 for East Anglia ONE, Ofgem said.
The links up for tender are being built by the offshore wind farm developers, and include offshore substations, offshore and onshore AC export cables and onshore substations.
Beatrice, 13 km off theScottish coast, is owned by SSE (40%), Copenhagen Infrastructure Partners (35%) and SDIC Power (25%).
Hornsea One, 120 km off the East Yorkshire coast, is owned by Orsted.
East Anglia One, 48 km off the Suffolk coast, is owned by ScottishPower Renewables.
Ofgem has been so impressed by the level of competition in the tenders that it has developed a competition proxy model, which it applies to large onshore transmission projects being proposed by incumbent monopolies National Grid and SSE Networks.
Competitive tender rounds have cut the cost to consumers of connecting offshore wind by at least GBP700 million since 2009, Ofgem has said.
— Henry Edwardes-Evans, henry.edwardes-evans@spglobal.com
— Edited by Jonathan Fox, newsdesk@spglobal.com
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