Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
Under Ofgem’s Offshore Transmission Owner (OFTO) regime, the offshore transmission link for the Hornsea Two offshore wind farm was transferred from Ørsted A/S to Diamond Transmission Partners Hornsea Two Limited, an entity owned by Mitsubishi Corporation and HICL Infrastructure PLC. Ofgem confirmed on 14 July 2023 that it would grant an offshore transmission licence to the Diamond Transmission Partners vehicle, enabling the £1.14 billion acquisition of the Hornsea Two transmission assets, the largest OFTO asset sale by value to date.