Vattenfall, the Swedish energy company, have agreed a £164M deal to transfer ownership of a Kent wind farm’s electricity export cables and substations.
The agreement, with international infrastructure group Balfour Beatty, was finalised following a tender process, managed by energy regulator Ofgem, to select the new transmission owner. The transmission infrastructure of Thanet Offshore Wind Farm is now owned by Balfour Beatty. 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.
Piers Guy, Vattenfall’s UK Country Manager, said: “Vattenfall’s offshore wind business has strong foundations in the UK and we are keen to build on the three wind farms we currently have in operation in UK waters. The completion of this complex deal helps us to put more effort into strengthening our UK wind energy business.”
Felix Würtenberger, Vattenfall’s BU Renewables Director of Commercial Steering and head of the transaction team, said: “We are very pleased that Thanet Offshore Wind Farm has now unbundled its transmission assets. Thanet is a very successful offshore wind farm and with the transaction complete we can now focus on maximising Thanet’s significant contribution to low carbon electricity supply in the UK.”
Vattenfall installed Thanet Offshore Wind Farm’s two 26km cables in 2009 and the wind farm started exporting power to the National Grid in 2010.