Bech-Bruun assists in the acquisition of London Array transmission assets
Bech-Bruun has assisted an international client consortium in the acquisition of the transmission assets at London Array, the world’s largest offshore wind farm.
Blue Transmission London Array Limited, which is a consortium consisting of Barclays Infrastructure Funds Management Ltd. and Diamond UK Transmission Corporation (a wholly owned Mitsubishi Corporation subsidiary), has acquired the transmission assets at London Array. The transaction’s asset value amounts to GBP 459 million (DKK 4.1 billion) making it the largest transaction to date in the Offshore Transmission Owner (OFTO) regime.
London Array is located 20 kilometers of the coasts of Kent and Essex on a 100 km2 site. Its 175 Siemens 3.6MW turbines have a combined capacity of 630MW and are expected to produce enough electricity to power over half a million UK homes each year.