Diamond Transmission and Chubu Electric Power Consortium Named Preferred Bidder for the Dogger Bank B Offshore Transmission Asset in the UK

A consortium of Diamond Transmission UK Ltd (DTUK) and Chubu Electric Power Co., Inc. (Chubu) has been selected as the Preferred Bidder for a new offshore electricity transmission link in the UK.

Valued at approximately GBP1 billion, the new HVDC offshore electricity transmission asset is comprised of subsea cables, land cables, offshore converter station, and an onshore converter station. These assets connect the 1.2 GW Dogger Bank B windfarm situated approximately 130 km off the UK's eastern coast to the National Grid.

The consortium will operate this electricity transmission business for a 25-year period following successful acquisition of the asset and the granting of an Offshore Transmission Owner (OFTO) license by the UK's Office of Gas and Electricity Markets (Ofgem).

DTUK is wholly owned by Global Infrastructure Partners (GIP), a part of BlackRock. With the acquisition of the Dogger Bank B transmission assets, DTUK will operate 11 OFTO projects with a total capacity of almost 7 GW and a total transferred value exceeding GBP 5.5 billion strengthening its position as the leading UK Offshore Transmission Owner.

The Dogger Bank B project will be Chubu's third UK OFTO project following its participation in the Walney Extension and Hornsea 1 OFTOs with DTUK. Chubu will contribute to the operation by utilizing its highly trusted technical knowledge on transmission systems. Chubu also will accumulate expertise in HVDC transmission technology and in the operation and maintenance of subsea transmission assets, supporting the further expansion of offshore wind power projects in Japan and overseas.

Location of Consortium's Offshore Transmission Assets