The European Investment Bank has agreed to provide GBP 82 million (USD 109.3 million) for the purchase, operation and maintenance of a new electricity transmission connection between the Humber Gateway offshore wind farm and the UK national electricity network.
The new Humber Gateway transmission link will connect the 73 turbine 220 MW Humber Gateway wind farm to the mainland transmission grid at Hedon, and includes an onshore substation in Hull an offshore substation and 40 km of mostly undersea cables.
“Investment to harness the UK’s offshore wind resources provides clean energy and is creating thousands of skilled jobs across the country. Offshore transmission connections are a key part of the UK’s future energy infrastructure and the European Investment Bank is pleased to support significant new investment to connect the Humber Gateway wind farm to the national network. This new scheme represents the tenth UK offshore transmission link supported by Europe’s long-term lending institution over the last 5 years,” said Jonathan Taylor, European Investment Bank VP.
The 19 year long-term EIB loan will be provided to Humber Gateway OFTO Ltd and the consortium behind the transmission link project comprises Balfour Beatty and Equitix.