13 bidders have been selected to take part in an auction for over £1.15 billion (€1.25 billion; $1.8 billion) of electricity transmission assets in the UK.
The tender process, which is being handled by UK energy regulator Ofgem, will see the firms bid to own and operate nine high-voltage electricity links with offshore windfarms. The nine projects have a combined asset value of over £1.15 billion and combined capacity of 2,064 megawatts.
Ofcom said in a statement over £15 billion of total investment is required in the UK’s transmission links to offshore windfarms.
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Only one of the nine assets, located off Barrow, is currently operational. One of the assets still in development, the 504-megawatt Greater Gabbard project, being developed by SSE/Airtricity and RWE Innogy, has the highest estimated value of the assets, at £344 million.
Winning bidders for the assets are expected to be selected in March or April next year.
A second round of contracts is then set to be put out to tender next summer.