Press release | 2014-12-22 | 13:28 PM

Deal completed on offshore wind farm power cable

Vattenfall sells Thanet Offshore Wind Farm transmission infrastructure in £164mn deal

Vattenfall, the Swedish energy company, have agreed a £164mn 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 today 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.

For further information, please contact: Jason Ormiston; 07794524801; [email protected]


Notes
Vattenfall owns and operates:

  • Thanet Offshore Wind Farm – 100 turbines – 300MW
  • Kentish Flats Offshore Wind Farm – 30 turbines – 90MW
  • Ormonde Offshore Wind Farm – 30 turbines – 150MW

The transmission assets that are transferring to Balfour

Beatty comprise of:

  • one offshore platform and associated substation
  • two subsea 132kV cables of 26.2km each
  • two 132kV onshore cables of 2.4km each
  • an onshore substation at Richborough

You can see more background on Thanet Offshore Wind Farm here 

Media can get images of Thanet Offshore Wind Farm from the Vattenfall image bank here

Search for ‘Thanet’ on Twitter.

@VattenfallUK