London Array grid link transfer expected in H2 2013

UK: The operators of the UK's London Array expect to divest the project's grid link to shore to Ofgem, the UK gas and electricity regulator, in the second half of 2013.

by Sara Knight 13 August 2013

(Pic: London Array)

The information was set out in E.on’s interim business report for the first half of 2013. The utility owns 30% of the offshore wind farm. 

The carrying amount of the property, plant and equipment attributed to E.on Renewables' global unit amounts to EUR 100 million, and the company said it expects to receive a comparable sum as compensation for the regulatory action.

In September 2012 Ofgem elected Blue Transmission London Array as preferred bidder for the London Array offshore grid asset.

The company is a joint venture of Barclays Infrastructure Funds Management and Diamond UK transmissions, ultimately owned by Barclays and Mitsubishi Corporation.

Mitsubishi Corporation also has stakes in German North Sea offshore, with wind cable links being built by transmission system operator Tennet — BorWin 1 and 2, HelWin 2 and DolWin2.