Transmission Capital Partners is pleased to announce that financial close has been achieved on the £307.7m Lincs offshore transmission project. This is our fifth project under Britain’s offshore transmission (“OFTO”) regime. TC Lincs OFTO Ltd (the special purpose company established for the Lincs OFTO assets) was awarded a transmission licence on the 4th November 2014 and took ownership of the assets on 11th November 2014.
The project provides the electrical connection for the Lincs offshore wind farm, a 270 MW facility located 8km from the Lincolnshire coast (near Skegness). The transmission assets comprise the onshore and offshore substations and the two subsea cables connecting the offshore wind farm with the onshore 400 kV transmission system. The transmission assets were acquired by TC Lincs OFTO Ltd from the developer Lincs Wind Farm Limited.
Lincs is the tenth Offshore Transmission Owner (OFTO) Licence to be awarded under Great Britain’s competitive tender process for the licensing of the high voltage transmission links to offshore wind farms.