Ørsted, PKA, and PFA divest Walney Extension transmission assets

Walney Extension Limited, a joint venture owned by Ørsted (50%), PKA (25%), and PFA (25%), has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Walney Extension.

Diamond Transmission Partners Walney Extension is a partnership between Diamond Transmission Corporation Limited (a wholly-owned subsidiary of Mitsubishi Corporation), HICL Infrastructure Company Limited, and Chubu Electric Power Co., Inc.

The transmission assets hold an asset value of GBP447 million (US$562.3 million). The assets include the onshore substation, export cables, and the offshore substations.

The divestment takes place in accordance with the offshore transmission owner (OFTO) regime. In March 2019, following a competitive tender, Ofgem selected Diamond Transmission Partners Walney Extension as preferred bidder for the Walney Extension offshore transmission license.

Walney Extension is a UK offshore wind farm located approximately 19km from the Walney Island coast in Cumbria and operated from Ørsted's West Coast Hub in Barrow. Walney Extension consists of 40 units of 8 MW MHI-Vestas offshore wind turbines and 47 units of 7 MW Siemens Gamesa offshore wind turbines, a total capacity of 659 MW, enough to power nearly 600,000 UK homes.