Ørsted, GIP JV Sells Hornsea 1 Transmission Assets to DTP


March 4, 2021
Offshore substation at Hornsea 1 Offshore Wind Farm

Offshore substation at Hornsea 1 Offshore Wind Farm

Hornsea 1 Limited, a joint venture owned by Ørsted (50 %) and Global Infrastructure Partners (GIP) (50 %), which operates the giant Hornsea 1 offshore wind farm, located 120km off the Yorkshire Coast, the UK, has struck a deal to sell its transmission assets.

Ørsted said Thursday that the JV had signed an agreement to sell the transmission assets to Diamond Transmission Partners Hornsea One Limited ('DTP').

DTP is a partnership between Diamond Transmission Corporation Limited, a Mitsubishi subsidiary, and Chubu Electric Power Co., Inc. 

The transmission assets hold an asset value of GBP 1.175 billion (~USD 1,63 billion). 

The assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS), and three offshore substations. The divestment takes place in accordance with the offshore transmission owner ('OFTO') regime.

In February 2020, following a competitive tender, Ofgem, the UK government regulator for gas and electricity markets, selected DTP as preferred bidder for the offshore transmission licence for the Hornsea 1 Offshore Wind Farm. 

Ørsted will provide DTP with operations and maintenance services for the transmission assets under a long-term agreement. 

Hornsea 1 is an offshore wind farm in the UK, located approximately 120 km off the Yorkshire coast. The wind farm consists of 174 Siemens Gamesa 7 MW wind turbines with an overall capacity of 1,218 MW, enough to power more than one million British homes.

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