Diamond Transmission Partners Hornsea One Limited enters deal to acquire Hornsea 1 transmission assets
Hornsea 1 Limited, a joint venture owned by Ørsted (50 %) and Global Infrastructure Partners (GIP) (50 %), today announced that it has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Hornsea One Limited ('DTP').
DTP is a partnership between Diamond Transmission Corporation Limited (a wholly-owned subsidiary of Mitsubishi Corporation) and Chubu Electric Power Co., Inc.
The transmission assets hold an asset value of GBP1.175 billion (US$1.6 billion). The assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS), and three offshore substations.
In February 2020, following a competitive tender, Ofgem selected DTP as the preferred bidder for the offshore transmission license for the Hornsea 1 Offshore Wind Farm.
Ørsted will provide DTP with operations and maintenance services for the transmission assets under a long-term agreement.
Hornsea 1 is an offshore wind farm in the UK, located approximately 120 km off the Yorkshire coast. The wind farm consists of 174 Siemens Gamesa 7 MW wind turbines with an overall capacity of 1,218 MW, enough to power more than one million British homes.
