London Array, a joint venture owned by DONG Energy (50%), E.ON (30%) and Masdar (20%), has signed an agreement for the sale of transmission assets at the world’s largest offshore wind farm to Blue Transmission London Array. The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime. Following a competitive tender, Blue Transmission London Array was in September 2012 selected by Ofgem as preferred bidder for the London Array offshore transmission licence.
With an asset value of £459m (€544m) for the entire transmission assets, this is the largest transaction to date in the OFTO regime. The divestment is expected to close later this month. London Array is located off the Kent coast in south-east England. The wind park has been operational since April 2013 and has a capacity of 630 MW.
Blue Transmission London Array Limited is the licensee entity incorporated by the consortium of Barclays Infrastructure Funds Management and Diamond UK Transmission Corporation (a wholly owned subsidiary of Mitsubishi), advised by Macquarie Capital.
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