HICL Infrastructure Consortium Wins Walney Transmission Link Bid

LONDON (Alliance News) - HICL Infrastructure Co Ltd on Thursday said Diamond Transmission ...

Alliance News 14 March, 2019 | 9:00AM
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LONDON (Alliance News) - HICL Infrastructure Co Ltd on Thursday said Diamond Transmission Partners has been selected as the preferred bidder to own and operate the offshore transmission link for the Walney extension offshore wind farm.

Diamond Transmission Partners is a consortium comprised of HICL, Chubu Electric Power Co Inc, and Diamond Transmission Corp Ltd - the latter being a subsidiary of Mitsubishi Corp.

The consortium was selected as preferred bidder by the Office of Gas & Electricity Markets, the UK's gas and electricity regulator.

HICL's consideration for its 40% interest in the Walney offshore transmission link expected to be around GBP23 million for the 20-year contract period.

As owner and operator of the offshore transmission link, the consortium will receive contractual, availability-based revenue but will not be exposed to construction risk, electricity production, or power price risk.

This is the fourth successful bid by the consortium and the acquisition is expected to take place toward the end of 2019.

Shares in HICL were up 0.3% at 163.20 pence on Thursday morning.

By Anna Farley; annafarley@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
HICL Infrastructure Company Ord 157.02 999 -
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