Agreement on the sale of Hornsea 2 transmission assets

21.7.2023 08:30:01 CEST | Ørsted A/S | Investor News

Breesea Limited, Soundmark Wind Limited, and Sonningmay Wind Limited, a joint venture owned by Ørsted (50 %) and AXA IM Alts and Crédit Agricole Assurances (CAA) (jointly 50 %), today announced that they have signed an agreement on the sale of their transmission assets to Diamond Transmission Partners Hornsea Two Limited ('DTP').
DTP is a partnership between Diamond Transmission Corporation Limited and HICL Infrastructure PLC.

The divestment takes place in accordance with the offshore transmission owner ('OFTO') regime. In September 2022, following a competitive tender, Ofgem selected DTP as preferred bidder for the offshore transmission licence for the Hornsea 2 Offshore Wind Farm.

The transmission assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS) and the offshore substation and have been assessed by Ofgem at a value of GBP 1.141 billion.

Ørsted will provide DTP with operations and maintenance services for the transmission assets under a long-term agreement.

Hornsea 2 is an offshore wind farm in the UK, located approximately 90 km off the Yorkshire coast in the North Sea. The wind farm consists of 165 Siemens Gamesa 8 MW wind turbines with an overall capacity of 1,320 MW, enough to power more than 1.4 million British homes.

For further information, please contact:

Media Relations
Thor Wilkens
+45 99 55 44 07
thrwi@orsted.com

Investor Relations
Rasmus Keglberg Hærvig
+45 99 55 90 95
ir@orsted.com

About Ørsted
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, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in Denmark, Ørsted employs approx. 8,000 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group's revenue was DKK 132.3 billion (EUR 17.8 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.

Attachments

• Hornsea 2 OFTO.pdf