Vattenfall completes $260 million power cable sale in the U.K.

Vattenfall has completed the sale of Thanet Offshore Wind Farm transmission infrastructure in a nearly $259 million deal. The sale includes export cables and substations and is a part of the unbundling process.

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. This is a part in the unbundling process, which stipulates the separation of companies' generation and sale operations from their transmission networks.

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.

Vattenfall installed Thanet Offshore Wind Farm’s two 16-mile cables in 2009 and the wind farm started exporting power to the National Grid in 2010.

The transmission assets that are transferring to Balfour Beatty comprise of:

·      One offshore platform and associated substation

·      Two subsea 132kV cables of 16-mile each

·      Two 132kV onshore cables of 1.4 miles each

·      An onshore substation (Richborough)

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