Diamond Transmission Partners has signed an agreement with the owners of the Race Bank offshore wind farm to acquire the project’s transmission assets.
Diamond Transmission Partners, a partnership of Diamond Transmission Corporation Ltd and HICL Infrastructure PLC, was selected as the preferred bidder for the Race Bank offshore transmission license in June last year.
The transmission assets, which hold a value of GBP 472.5 million, include the onshore substation, export cables and the offshore substation.
Race Bank comprises 91 Siemens Gamesa 6MW turbines located 27km off the coast of Norfolk, UK, which were commissioned last June.
The 573MW offshore wind farm is owned by Race Bank Wind Farm Ltd, a joint venture of Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), Sumitomo Corporation (12.5%) and Arjun Infrastructure Partners and Gravis Capital Management (12.5%).