Agreement for the sale of Hornsea 1 transmission assets
DTP is a partnership between Diamond Transmission Corporation Limited (a wholly-owned subsidiary of Mitsubishi Corporation) and Chubu Electric Power Co., Inc.
The transmission assets hold an asset value of GBP 1.175 billion. The assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS), and three offshore substations.
The divestment takes place in accordance with the offshore transmission owner ('OFTO') regime. In February 2020, following a competitive tender, Ofgem selected DTP as preferred bidder for the offshore transmission licence for the Hornsea 1 Offshore Wind Farm.
Ørsted will provide DTP with operations and maintenance services for the transmission assets under a long-term agreement.
Hornsea 1 is an offshore wind farm in the UK, located approximately 120 km off the Yorkshire coast. The wind farm consists of 174 Siemens Gamesa 7 MW wind turbines with an overall capacity of 1,218 MW, enough to power more than one million British homes.
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks as the world's most sustainable energy company in Corporate Knights' 2021 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,179 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2020, the group's revenue was DKK 52.6 billion (EUR 7.1 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.