Moray East OFTO Preferred Bidder appointed

OFTOTransmission Investment

Transmission Capital Partners (TCP), the consortium comprising Transmission Investment, Amber Infrastructure and INPP, has been appointed as preferred bidder for the Moray East offshore transmission connection (‘OFTO’). Moray East OFTO is a 220kV 3-cable connection to a 950MW offshore windfarm in the outer Moray Firth, connecting at New Deer substation in Aberdeenshire. TCP recently acquired the Beatrice OFTO asset, also in North Scotland, in August 2021 and will therefore have a strong presence in the Moray Firth and North of Scotland.

The Moray East project is expected to be acquired in 2022/3 with an estimated transfer value of £648m.

This project is the eleventh in the Transmission Capital Partners portfolio with the existing projects being Robin Rigg, Gunfleet Sands, Barrow, Ormonde, Lincs, Westermost Rough, Dudgeon, Beatrice, Rampion and East Anglia One (preferred bidder). The Moray East OFTO transaction is currently being finalised. The total capital value of all the projects will be circa £2.6bn.

Read Ofgem Offshore Transmission Notice.