Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
In September 2022, Ofgem selected Diamond Transmission Partners (a consortium of Mitsubishi Corporation and HICL Infrastructure plc) as the preferred bidder in Offshore Transmission Tender Round 8 to own and operate the Hornsea Two OFTO transmission asset. This selection granted Diamond Transmission Partners the right, subject to licence grant and completion of the asset transfer, to earn a long-term regulated revenue stream over a 24‑year period from operating the Hornsea 2 offshore transmission system.