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Financial investors eye UK wind power cable plans

Tue, 08/10/2010 - 11:27am
Reuters

By Greg Roumeliotis European Infrastructure Correspondent AMSTERDAM (Reuters) - Britain's plans to lure 15 billion pounds ($24 billion) of private capital for construction of technically complex offshore wind transmission links can attract financial investors, a participating infrastructure fund said.

Earlier this month, UK energy regulator Ofgen named a consortium led by the International Public Partnerships (INPP) as a preferred bidder, alongside Balfour Beatty and Macquarie, to own and operate 700 million pounds of existing transmission links to seven offshore wind farms.

This is the first of two rounds of tenders to be awarded involving owning and operating of existing links. Depending on their outcome and on an Ofgem consultation, the government could move to projects that involve construction of new links.

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