07 September 2016 11:56
E.ON announces sale of transmission assets at Humber Gateway
E.ON has announced that it has signed an agreement
for the sale of transmission assets at its Humber Gateway offshore wind farm to
a consortium comprising Balfour Beatty Investments and Equitix.
Balfour Beatty Investments and Equitix were selected
by Ofgem in September 2015 as the preferred bidder to own and operate the
offshore transmission link. The divestment is necessary due to regulatory
requirements relating to the ownership of transmission and generation asset.
sale price for the transmission assets is £162.9m. The annual revenue required
to cover the transmission network charges that E.ON’s Humber Gateway will pay for
the next 20 years, will be proportionally the lowest amongst all previous Offshore Transmission Owner (OFTO) transactions.
Therefore, it is the most competitive OFTO assets disposal for an offshore wind
farm developer in the UK to date.
Humber Gateway is one of several major renewable
energy projects in E.ON’s portfolio in the UK, which also includes London
Array, the world’s largest operational offshore wind farm, Blackburn Meadows
Biomass Plant in Sheffield and the Rampion Offshore Wind Farm project currently
in construction 13km off the Sussex coast.
The Humber Gateway wind farm, which remains 100
percent owned by E.ON, has 73 turbines located 8km off the Holderness coast and went into full
operation in May 2015. It has a capacity of 219MW, which is enough electricity
to power 170,000 homes or around one and a half times the size of
Notes to editors
 Balfour Beatty Equitix
Consortium is a consortium comprising Balfour Beatty Investments Limited and
 Based on an average annual domestic household
electricity consumption of 4,725kWh (DECC);
 Based on 2011 census
For more information contact:
Scott Somerville: email@example.com / 07889 771 804
Roxanne Postle: firstname.lastname@example.org / 02476 195 785
information (including any forecasts or projections) contained in this press
release (the "Information") reflects the views and opinions of E.ON
on the date of this press release. The
Information is intended as a guide only and nothing contained within this press
release is to be taken, or relied upon, as advice. E.ON makes no warranties,
representations or undertakings about any of the Information (including,
without limitation, any as to its quality, accuracy, completeness or fitness
for any particular purpose) and E.ON accepts no liability whatsoever for any action or
omission taken by you in relation to the Information. Any reliance you place on
the Information is solely at your own risk.
This press release is the property of E.ON and you may not copy, modify,
publish, repost or distribute it. © E.ON 2016