RWE has confirmed the transfer of the OFTO assets for the 857MW Triton Knoll wind farm off east England to a consortium of Equitix and TEPCO Power Grid Incorporated.
The consortium was selected through a competitive tender to own and operate the transmission infrastructure for 23 years and is expected to pay £572.2m for the sale.
RWE and its partners J-Power and Kansai Electric Power had faced the prospect of pausing operations at Triton Knoll after missing two previous deadlines to transfer the assets.
The original date of 23 October 2022 was extended following the discovery of an export cable fault the previous November.
The revised deadline of 23 July 2023 then came and went due to “various matters” outside of the RWE-led consortium’s control.
RWE Offshore Wind CEO Sven Utermohlen said: “We are pleased to conclude the transaction of the transmission assets at Triton Knoll.
“Our teams have been working with Triton Knoll OFTO Ltd to reach this conclusion and we look forward to further developing a positive working relationship in the years to come.”