Seagreen Wind Energy Limited (SWEL), a joint venture led by SSE Renewables, has signed an agreement to sell the offshore transmission assets of its 1GW Seagreen Phase 1 Offshore Wind Farm to a consortium consisting of Equitix and Kyuden Group.
The assets, which include subsea and onshore export cables, along with offshore and onshore substations, were sold as part of a competitive Offshore Transmission Tender process conducted by Ofgem, the UK's energy regulator.
Under the terms of the agreement, Seagreen Phase 1 OFTO, the purchasing consortium, will own, operate, and maintain the transmission infrastructure for a 24-year period, as stipulated in the transmission license granted by Ofgem.
“The sale of the transmission assets is a key milestone for the Seagreen project and reflects the successful completion of the competitive Offshore Transmission Tender process,” said a spokesperson for SWEL.
The Seagreen Phase 1 offshore wind farm, located 27 km off the Angus coast, became fully operational in October 2023. The transmission assets will connect the wind farm to the national grid through three export cables, each approximately 64 km long, followed by a 20 km onshore route to the substation in Angus.
SWEL is jointly owned by SSE Renewables (49%), TotalEnergies (25.5%), and PTTEP (25.5%).
