Brussels, 02/11/2011 (Agence Europe) - The European Investment Bank (EIB) announced on 25 October that it was to provide £52 million in funding for the transmission link to the Walney 1 offshore wind farm. 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.
As part of the licence grant process, Blue Transmission is buying the link from DONG, Scottish and Southern Energy and OPW for £105.4 million, with £52 million of debt funding for the purchase being provided by the European Investment Bank. 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 total funding of £300 million for six of the nine links to offshore wind farms from the first transitional tender round under the Offshore Transmission Owner (OFTO) regime. (LC/transl.rt)