Aviva Investors finances in the acquisition of 1.2 GW offshore Windfarm transmission assets

Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced it has provided financing to Diamond Transmission Partners for the purchase of offshore transmission operator (“OFTO”) assets at Hornsea One, the world’s biggest offshore wind farm.

The transaction was carried out on behalf of Aviva UK Life’s annuity business and further extends Aviva Investors’ commitment to the Hornsea One project, with the business having originally provided GBP400 million (US$556 million) of financing in 2018 to help fund its construction.

Hornsea One, owned by Ørsted Wind Power A/S and Global Infrastructure Partners (‘GIP’), is a 1.2GW asset located off the East Coast of England. Consisting of 174 Siemens 7MW wind turbine generators, it was the first wind farm to have more than 1GW of capacity and produces enough energy to power over one million UK homes.

Hornsea One OFTO builds on the strong partnership Aviva Investors has built with Diamond Transmission Partners in 2020 when Aviva Investors also contributed funding towards the purchase of OFTO systems at Galloper

Wind Farm, which sits 27km off the coast of Suffolk and which generates enough electricity to power more than 380,000 UK homes.