Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 14 October 2025, Ofgem named Equitix as the preferred bidder for the Tender Round 10 Neart na Gaoithe Offshore Transmission Owner (OFTO) project, an OFTO package valued at approximately £450 million. At asset transfer, Equitix is expected to receive an OFTO transmission licence and acquire the NnG transmission assets, including the offshore substations, about 38 km of offshore export cables, 13 km of onshore export cables, and the new onshore substation connecting into SPEN’s Crystal Rig substation, thereby securing the regulated OFTO revenue stream for operating these assets.