The consortium owning the Beatrice Offshore wind farm off the coast of Scotland, has signed an agreement to sell the 588MW wind farm's Offshore Transmission Assets (OFTO) to Transmission Capital Partners.
The buyer is a consortium comprising International Public Partnerships Limited, Amber Infrastructure Group, and Transmission Investment.
The wind farm is owned by SSE Renewables (40%), Red Rock Power Limited (25%), The Renewables Infrastructure Group (17.5%), and Equitix (17.5%).
SSE said Friday that the sale agreement follows the selection in December 2019 by Ofgem of Transmission Capital Partners as the preferred bidder for the offshore transmission licence for the Beatrice Offshore Windfarm as part of a competitive Offshore Transmission Tender process.
The sale is related to the transmission cable connection to the offshore wind farm located in Scotland’s Outer Moray Firth, approximately 13.5km off the Caithness coastline in Scotland.
Beatrice Offshore Wind Farm comprises 84 Siemens Gamesa 7MW wind turbine generators connected to two offshore substation platforms located within the boundaries of the wind farm.
The transmission assets include two Offshore Transformer Modules, the onshore substation at Blackhillock and export cables, and hold an asset value of £437.9 million ($610,74 million).
Beatrice Offshore Wind Farm became fully operational in June 2019 following seven years of development and three years of construction and was officially opened two years ago this week by Prince Charles.
The offshore wind farm is is operated and maintained from its base at Wick Harbour on the north east coast of Scotland. Its 84 wind turbines are capable of providing enough electricity for up to 450,000 homes.