UK awards Gabbard wind link licence

Greater Gabbard

Greater Gabbard

A consortium including Balfour Beatty has won the licence to own and run the £317m ($512m) transmission link to the UK’s Greater Gabbard offshore wind farm.

UK regulator Ofgem awarded the licence to Greater Gabbard OFTO – comprising Balfour Beatty, Equitix and AMP Capital Investors – after a competitive tender.

The consortium will take over the link to the 504MW Greater Gabbard plant, off Eastern England, from wind farm development partners SSE and RWE.

Ofgem said Greater Gabbard is the first Offshore Transmission Owner (OFTO) project to be funded via the capital markets.

It is also the first UK project make use of the European Investment Bank’s (EIB's) Project Bond Credit Enhancement scheme. That is designed to help projects such as the wind link attract additional investment from Log in to read complete article.

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