A consortium led by Japanese industrial giant Mitsubishi will run the grid link to the UK’s 1.2GW Hornsea 1 – the world’s largest operating offshore wind farm – in a deal that values the transmission assets at £1.2bn ($1.7bn).
Diamond Transmission Partners was awarded a 25-year licence by UK regulator Ofgem to own and run the Hornsea 1 link after a competitive bidding round, in return for a guaranteed level of income.
