TC Dudgeon OFTO plc: 15 November 2018
The proceeds of the issuance of the Bonds will be applied towards the acquisition by the Issuer of the Transmission Assets.
Dudgeon is located 32km off the coast of the seaside town of Cromer in North Norfolk. Dudgeon consists of 67 6MW wind turbine generators with an installed capacity of 402MW.
OFGEM statement (edited): Today (7th November 2018) Ofgem has granted a licence to TC Dudgeon OFTO plc to own and operate the £297.9 million high-voltage transmission link to the Dudgeon offshore wind farm for the next 20 years.
Transmission Capital Partners, a consortium comprising International Public Partnerships Limited, Amber Infrastructure Group and Transmission Investment, was selected by Ofgem through a tender process in which bidders compete to become Offshore Transmission Owners (OFTOs).
The Dudgeon wind farm is the first project from the fifth tender round of the regime for which Ofgem has granted an OFTO licence. It is located off the coast of Cromer, Norfolk and has a capacity of 402MW. The wind farm will power close to 410,000 UK homes.
As part of the tender process, TC Dudgeon OFTO plc agreed to purchase the link and transmission assets from a consortium comprising Equinor ASA, Masdar and China Resources (Holdings) Co. Ltd, which also owns the Dudgeon offshore wind farm.