Ormonde OFTO project preferred bidder appointed

OFTOTransmission Investment

Ofgem has announced today that following a Best-And-Final-Offer process Transmission Capital Partners have been appointed as preferred bidder for the Ormonde OFTO project in the first transitional tender round.

Transmission Capital Ltd is pleased to announce that Transmission Capital Partners, the Transmission Capital / Amber Infrastructure / International Public Partnerships consortium has been appointed as preferred bidder for the Ormonde project awarded under Ofgem’s first round of tenders for the long-term licence and operation of offshore transmission assets. The project relates to the transmission cable connections for the Ormonde offshore wind farm which is still in construction.

This project adds to the three for which Transmission Capital Partners was already appointed preferred bidder in August.

The total capital value for the four projects is approximately £250 million. Further financial information will be available following financial close. In addition, the consortium remains shortlisted for one further project, expected to be awarded in 2011.

These awards are made as part of the first offshore transmission tender round with subsequent awards expected as the offshore generation industry expands. New opportunities with a total development value of up to £14bn are expected over the next nine years.