Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 18 December 2019, Ofgem selected the Transmission Capital Partners consortium as the preferred bidder for the Beatrice offshore transmission licence under Tender Round 6, and Transmission Capital Partners established TC Beatrice OFTO Ltd as the special purpose company to acquire the Beatrice offshore transmission assets. This selection effectively secured a long-term, availability-based, inflation-linked regulated revenue stream for the OFTO over an initial 23‑year term once the licence and asset transfer were completed, in line with the UK OFTO regime.