UK launches its largest offshore transmission tender at £3.5 billion
Ofgem opened the largest round of the Offshore Transmission Owner (OFTO) scheme, with transmission assets valued at around £3.5 billion tied to connecting Hornsea 3 to the British grid. Investors will compete to finance, operate and maintain already-built cables and offshore and onshore substations, with long-term revenues linked to inflation and asset performance for up to 25 years. Bids are due by January 14, 2027, with results expected in April of that year.
In 40 seconds
- Ofgem opens round 14 of the OFTO scheme, its largest to date, with assets estimated at £3.5 billion.
- The tender covers Hornsea 3's transmission infrastructure, not the wind farm, located more than 100 km off the coast in the North Sea.
- The winning bidder will receive long-term revenues linked to inflation and conditioned on asset availability and performance, for up to 25 years.
Read the full story at Energía Estratégica
IASummary generated by artificial intelligence from a story by Energía Estratégica. It may contain errors: the original source prevails.
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