E.ON has signed an agreement for the sale of transmission assets at its Humber Gateway offshore wind farm to a consortium comprising Balfour Beatty Investments and Equitix.
Balfour Beatty Investments and Equitix were selected by Ofgem in September 2015 as the preferred bidder to own and operate the offshore transmission link. The divestment is necessary due to regulatory requirements relating to the ownership of transmission and generation asset, the company explained.
The final sale price for the transmission assets is GBP 162.9 million (USD 283.5 million). The annual revenue required to cover the transmission network charges that E.ON’s Humber Gateway will pay for the next 20 years, will be proportionally the lowest amongst all previous offshore transmission owner (OFTO) transactions, E.ON noted.
The Humber Gateway wind farm, which is 100 percent owned by E.ON, has 73 turbines located 8 km off the Holderness coast and went into full operation in May 2015.
It has a capacity of 219 MW, which is enough electricity to power 170,000 homes.