The Office of Gas and Electricity Markets (Ofgem) has announced Equitix as the preferred bidder on the £450 million Tender Round 10 Neart na Gaoithe offshore transmission owner (OFTO) project.
The Neart na Gaoithe offshore wind farm has been developed by Neart na Gaoithe Offshore Wind Ltd, a 50/50 joint venture between EDF Renewables UK and Irish energy supplier, ESB. The wind farm is a 448 MW offshore wind farm, capable of powering around 375 000 Scottish homes and is located approximately 16 km from Fife Ness and 16 km from the Isle of May.
At asset transfer, Equitix will be granted a transmission licence and acquire the transmission assets comprising; the offshore substations, offshore export cables (around 38 km long) onshore export cables (roughly 13 km long), the newly built onshore substation, and associated infrastructure. The transmission assets connect into the SPEN substation located at Crystal Rig.
Achal Bhuwania, Equitix’s Chief Investment Officer, said: “Being named preferred bidder on Neart na Gaoithe OFTO marks another proud step in Equitix’s journey driving the UK’s renewable future. Including Dogger Bank A, this will be Equitix’s eighth OFTO and a fourth consecutive win for our team in the sector. This demonstrates our conviction in the UK mid-market and is a validation of our strong market positioning, wherein we have been able to consistently source differentiated investments for our clients.”
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