Mott MacDonald provided key technical, regulatory and environmental advisory services to Balfour Beatty Investments, facilitating their successful acquisition of the high voltage transmission link for the 504MW Greater Gabbard offshore wind farm located off the coast of Suffolk.
Balfour Beatty Investments is a partner in the Green Energy Transmission Consortium, which is now the Offshore Transmission Owner (OFTO) of the £317 million asset. The 132kV transmission system includes one onshore and two offshore substations and over 150km of subsea cable. The consortium will be responsible for the operation and maintenance of the asset under a long-term licence granted by Ofgem, with a 20-year revenue entitlement.
The Greater Gabbard OFTO acquisition is Balfour Beatty Investments’ first offshore transmission investment as part of Ofgem’s tender scheme.
Mott MacDonald will continue to provide advisory services to Balfour Beatty Investments for their growing portfolio of OFTO investment projects. Their portfolio, including projects at the preferred bidder stage, currently totals over £800 million. Future opportunities, with a total capital value up to £8 billion, are expected through to 2020.
Press release, February 5, 2014; Image: RWE