Walney Extension, the operator of the Walney Extension offshore wind farm in the UK, has signed an agreement to divest its transmission assets to Diamond Transmission Partners Walney Extension.

Walney Extension is a joint venture of Orsted (50%) and Danish pension funds PFA (25%) and PKA (25%).

Diamond Transmission Partners Walney Extension is a joint venture between Mitsubishi’s wholly-owned subsidiary Diamond Transmission, HICL Infrastructure Company and Chubu Electric Power.

Assets considered for sale by Walney Extension are valued at £447m

Valued at £447m (€502m), the assets considered for sale include the onshore substation, export cables and the offshore substations.

Orsted said that the transaction would be implemented in compliance with the offshore transmission owner (OFTO) regime.

Last year, the UK’s Office of Gas and Electricity Markets (Ofgem) selected Diamond Transmission Partners Walney Extension as preferred bidder for the offshore transmission licence, following a competitive tender round.

The £500m project connects the Walney Extension offshore windfarm to the shore. It comprises subsea cables, land cables, offshore substations along with an onshore substation.

Located approximately 19km from the Walney Island coast in Cumbria, the 659MW Walney Extension offshore wind farm is operated from Ørsted’s West Coast Hub in Barrow.

The project features 40 8MW MHI-Vestas offshore wind turbines and 47 7MW Siemens Gamesa offshore wind turbines, to generate electricity enough to power nearly 600,000 UK homes.

Extending over an area of 145km² in the Irish Sea, the Walney Extension is a part of the Walney offshore wind farm project, which includes Walney I and Walney II wind farms.