Stake Transaction

ownership

Gunfleet Sands OFTO

19 July 2011

View Source

Event Details

Event Type:Stake Transaction

Category:ownership

Date:19 July 2011

Date Precision:day

Event Signals

Neutral

Informational - no clear directional impact

Low Impact

Minor progress or informational

Ownership Details

Buyer:Transmission Capital

Seller:Ørsted

Stake Transferred:100%

Transaction Value:£49.5M

Description

Ofgem granted TC Gunfleet Sands OFTO Limited (a Transmission Capital Partners SPV) a licence to own and operate the Gunfleet Sands 1 and 2 offshore transmission assets on 19 July 2011. The transfer value was GBP 49.5 million. Assets transferred from DONG Energy (now Orsted) under Ofgem's OFTO Tender Round 1.