UK: Walney 2 Offshore Wind Farm Transmission Assets Sold

Walney (UK) Offshore Windfarms Limited announced today that it has completed the sale of transmission assets at the offshore wind farm Walney 2 to Blue Transmission Walney 2 Limited, which is the licensee entity incorporated by the consortium of Macquarie Capital Group Limited (Macquarie Capital) and Barclays Infrastructure Funds Management Limited, for approx. GBP 110 million (approx. DKK 1,045 million).

DONG Energy (50.1%), SSE (Scottish and Southern Energy) (25.1%) and OPW (24.8%), a company jointly owned by Dutch pension administrator PGGM and Ampère Equity Fund (managed by Triodos Investment Management), are the companies behind Walney (UK) Offshore Windfarms Limited,  with DONG Energy as the leading partner in the construction and operational phases of the Walney Offshore Windfarms.

The financial closure of the transaction has been completed, and the assets will be transferred in the coming days to Blue Transmission Walney 2 Limited.

DONG Energy and Blue Transmission Walney 2 Limited have agreed upon an operation and maintenance contract for the transmission assets.

The disposal is in line with regulation requiring offshore wind farm generators to divest their transmission assets to new offshore transmission owners via a competitive tender run by Ofgem.

[mappress]

Press release, September 26, 2012; Image: DONG Energy