The offshore transmission asset connects the Dudgeon offshore wind farm to the national grid. This is the seventh Offshore Transmission Owner (OFTO) Licence awarded to INPP under the competitive tender process managed by energy regulator Ofgem, for the licensing of high voltage transmission links with offshore wind farms in Great Britain.
The project connects the 402MW Dudgeon offshore wind farm, located 32km off the coast of Cromer in North Norfolk, to the national grid via subsea and land cables and other related infrastructure including substations.
Previous licences Robin Rigg OFTO, Gunfleet Sands OFTO, Barrow OFTO, Ormonde OFTO, Lincs OFTO and Westermost Rough OFTO were awarded in 2011, 2012, 2014 and 2016.
The OFTO licence is held by an INPP company, which has acquired the link from the wind farm owner, Dudgeon Offshore Wind Limited.
Project capital cost
Energy generation capacity supported
Project highlights include:
- Operational and immediately yielding with no construction or refinancing risk
- 20-year availability-based revenue stream with protected downside whereby potential deductions will be capped at 10% of base revenue in any year
- Returns generated are fully linked to UK RPI and are not subject to any revenue or penalty exposure to windfarm performance or credit
- Revenues are contracted by a subsidiary of National Grid, the National Grid Electricity Transmission plc (NGET) in their statutory ring-fenced role as national electricity systems operator (NGET rated ‘A-’ S&P; ‘A’ Fitch)