Hornsea 1, a 50-50 joint venture owned by Ørsted and Global Infrastructure Partners (GIP), has signed an agreement to sell its transmission assets to Diamond Transmission Partners Hornsea One (DTP).
Hornsea 1, an offshore wind farm in the United Kingdom, consists of 174 Siemens Gamesa 7-megawatt wind turbines with an overall capacity of 1.2 gigawatts.
The transmission assets include an onshore substation, export cables, an offshore reactive compensation substation and three offshore substations. The assets are valued at £1.175 billion ($1.6 billion), according to Ørsted.
DTP is a partnership between Diamond Transmission Corp., a wholly owned subsidiary of Mitsubishi Corp., and Chubu Electric Power Co.
Following the transaction, Ørsted will provide DTP with operations and maintenance services for the transmission assets under a long-term agreement.
