GBP 52m of funding for the transmission link to the Walney 1 offshore wind farm will be provided by the European Investment Bank, the European Union's long-term lending institution.
Blue Transmission Walney 1 Limited has been granted a licence to own and operate the offshore transmission link by Ofgem E-Serve, the UK energy regulator’s business unit focusing on environmental programmes and delivery of sustainability projects. Blue Transmission are buying the link, as part of the licence grant process, from DONG, Scottish and Southern Energy and OPW for £105.4m, with £52 million of debt funding for the purchase being funded by the European Investment Bank (EIB). The EIB is providing this funding to support investment in offshore links as an essential part of the UK’s renewable energy infrastructure. The EIB is expecting to provide funding totalling £300m for six of the nine links to offshore wind farms from the first transitional tender round.
Blue Transmission Walney 1 Limited has been granted a licence to own and operate the offshore transmission link by Ofgem E-Serve, the UK energy regulator’s business unit focusing on environmental programmes and delivery of sustainability projects. Blue Transmission are buying the link, as part of the licence grant process, from DONG, Scottish and Southern Energy and OPW for £105.4m, with £52 million of debt funding for the purchase being funded by the European Investment Bank (EIB). The EIB is providing this funding to support investment in offshore links as an essential part of the UK’s renewable energy infrastructure. The EIB is expecting to provide funding totalling £300m for six of the nine links to offshore wind farms from the first transitional tender round.
