OFFSHORE TRANSMISSION NETWORK ROUND 2
- Reference: 20110265
- Release date: 25 August 2011
Ofgem - Office of Gas and Electricity Markets
The project concerns the transmission assets associated with the qualifying offshore wind farms for the second transitional tender round of the UK OFTO regulatory regime. Offshore Transmission Licences will be granted by Ofgem through a competitive tender process, with the successful bidder(s) becoming the Offshore Transmission Owner (OFTO). The result will be that the generating assets (offshore wind farms) will be owned and operated by the generator, whilst the Offshore Transmission System, which connects the offshore wind farms to the onshore transmission system, will be owned, operated and managed by the OFTO Licensee.
The regulated entities (OFTOs) will operate and maintain offshore transmission assets essential to the export of electricity from offshore wind farms, the development of which supports EU and national targets for renewable energy and thus contributes to environmental and security of energy supply objectives. The financing of this project would contribute to the EIB’s lending priority policy on renewable energy.
The financing of this project has been approved to include a project bond credit enhancement option.
EUR 818 million (GBP 700 million)
EUR 1753 million (GBP 1500 million)
Wind farms (including associated infrastructure; undersea cables/substations) fall by virtue of their technical characteristics under Annex II of EIA-Directive 85/337/EEC (as amended). According to national regulations an offshore wind farm, and its associated transmission infrastructure, is subject to a full mandatory EIA including public consultation. Further details of the environmental due diligence procedures applied to the project will be assessed during appraisal to verify compliance with the Bank’s environmental policy.
The regulatory authority Ofgem is running a competitive tender process to identify preferred bidders, with the successful bidder becoming the OFTO. In this regard, and in accordance with its tender regulations, Ofgem issued a notice of its intention to commence a tender exercise in respect of the transitional tender round 2 projects on its website on 17 November 2010. In addition a voluntary notice was published in the Official Journal of the European Union (ref: 2010/S 224-342969). The procurement process will be reviewed in detail during appraisal.
Signed - 10/09/2013.
- 02-01-2014 - Environmental and Social Data Sheet - OFFSHORE TRANSMISSION NETWORK ROUND 2
- 02-01-2014 - Environmental and Social Data Sheet - OFFSHORE TRANSMISSION NETWORK ROUND 2 Addendum
- 19-03-2013 - Non Technical Summary - West of Duddon Sands
- 16-11-2011 - Non Technical Summary - London Array
- 16-11-2011 - Non Technical Summary - Lincs Offshore Wind Farm
- 16-11-2011 - Non Technical Summary - Gwynt y MÃ´r Offshore Wind Farm
- 16-11-2011 - Non Technical Summary - LID6 Environmental Statement - Lincs Wind Farm Limited
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).