Vattenfall completes $260 million power cable sale in the U.K.
Vattenfall has completed the sale of Thanet Offshore Wind Farm transmission infrastructure in a nearly $259 million deal
Vattenfall has completed the sale of Thanet Offshore Wind Farm transmission infrastructure in a nearly $259 million deal. The sale includes export cables and substations and is a part of the unbundling process.
The agreement, with international infrastructure group Balfour Beatty, was finalised today following a tender process, managed by energy regulator Ofgem, to select the new transmission owner. This is a part in the unbundling process, which stipulates the separation of companies' generation and sale operations from their transmission networks.
Vattenfall will continue to own and operate the 100-turbine offshore wind farm but will now export power to the National Grid through Balfour Beatty’s infrastructure.
Vattenfall installed Thanet Offshore Wind Farm’s two 16-mile cables in 2009 and the wind farm started exporting power to the National Grid in 2010.
The transmission assets that are transferring to Balfour Beatty comprise of:
· One offshore platform and associated substation
· Two subsea 132kV cables of 16-mile each
· Two 132kV onshore cables of 1.4 miles each
· An onshore substation (Richborough)