Diamond Transmission Partners has closed the previously announced acquisition of Hornsea One’s offshore transmission operator (OFTO) assets in the United Kingdom.
The deal was expected to fetch $1.6 billion.
Hornsea One, a 50-50 joint venture owned by Ørsted and Global Infrastructure Partners (GIP), is the world’s biggest offshore wind farm. The 1.2-gigawatt asset consists of 174 7-megawatt turbine generators and was the first wind farm to offer more than 1 gigawatt of capacity. Located off the east coast of England, the wind farm produces enough energy to power more than 1 million U.K. homes.
The transmission assets include an onshore substation, export cables, an offshore reactive compensation substation and three offshore substations.
Aviva Investors provided financing for the transaction, which was carried out on behalf of Aviva U.K. Life’s annuity business.
