London Array Offshore Windfarm Asset Disposal

MarineLink.com
Wednesday, September 11, 2013

DONG Energy A/S London Array, a joint venture owned by DONG Energy (50%), E.ON (30%) and Masdar (20%), have announced  an agreement for the sale of transmission assets at the world’s largest offshore wind farm to Blue Transmission London Array Limited.

London Array Wind Farm is located around 20 km off the coasts of Kent and Essex on a 100km2 site.  Its 175 Siemens 3.6MW turbines have a combined capacity of 630MW and are expected to produce enough electricity to power over half a million UK homes each year.

The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime. Following a competitive tender, Blue Transmission London Array Limited was in September 2012 selected by Ofgem as preferred bidder for the London Array offshore transmission licence.

With an asset value of GBP 459 million (DKK 4.1 billion) for the entire transmission assets, this is the largest transaction to date in the OFTO regime. The divestment is expected to close later this month.

Blue Transmission London Array Limited is the licensee entity incorporated by the consortium of Barclays Infrastructure Funds Management Limited and Diamond UK Transmission Corporation (a wholly owned subsidiary of Mitsubishi Corporation), advised by Macquarie Capital.
London Array has been selected by Blue Transmission London Array Limited to provide operations and maintenance services to the transmission link connecting the London Array Offshore Wind Farm to the onshore grid.
 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

China Passes New Pollution Law, Will Cap Coal Consumption

Legislators have approved amendments to China's 15-year-old air pollution law that grant the state new powers to punish offenders and create a legal framework to cap coal consumption,

Gazprom, OMV Meet on Establishing Nord Stream JV

At a Meeting held at the Gazprom headquarters between Alexey Miller, Chairman of the Company's Management Committee and Rainer Seele, Chairman of the Executive Board of OMV,

Offshore

Obama Defends Arctic Oil Drilling

United States' President Barack Obama defends his decision to allow Royal Dutch Shell to drill for oil in the Arctic Ocean.   He insisted that there was no contradiction

Keppel Acquires Cameron's Rig Business

Singapore's Keppel Offshore & Marine (KOM), via subsidiary, Keppel Offshore & Marine USA  has inked a deal with Cameron International Corporation, a US-based oil and gas solutions provider,

Eni Finds Giant Egyptian Offshore Gas Field

The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea.

Finance

Optimistic on VLCC Market

Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards.   The demand is expected to remain elevated with

Goldenport Bleeds in Red

Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier

Strong Returns for Sovcomflot

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

Wind Power

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

MHI, SBG Invest in Wind Energy Startup Altaeros Energies

Mitsubishi Heavy Industries, Ltd. ("MHI") and the Suhail Bahwan Group ("SBG") have invested in Altaeros Energies, a Massachusetts-based technology company, to

What Have We Learned From Hurricane Katrina?

To mark the 10th anniversary of Hurricane Katrina, specialist insurer Allianz Global Corporate & Specialty (AGCS) has released a report analyzing windstorm risks

 
 
Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4461 sec (2 req/sec)