EnergyWatch

Ørsted sells Hornsea 1 facilities at far below original valuation

Mandatory divestment of transmission facilities at Ørsted's largest offshore wind farm is approved by British regulator, with the utility still in charge of operations.

Photo: Ørsted

British energy regulator the Office of Gas and Electricity Markets (Ofgem) has awarded Diamond Transmission Partners (DTP) the license to operate grid connection to offshore wind farm Hornsea 1. Utility Ørsted and joint-venture partner GIP's sale of the transmission facilities has thereby been signed, announce Ofgem and Ørsted.

The facilities, encompassing transformer substations on- and offshore as well as export cables, have a value of GBP 1.175bn.

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