Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
On 11 October 2019, Diamond Transmission Partners, a consortium of HICL Infrastructure PLC and Diamond Transmission Corporation Limited (a Mitsubishi Corporation subsidiary), completed the acquisition of the offshore transmission assets associated with the Race Bank Windfarm, becoming the licensed owner of the Race Bank OFTO grid connection off the coast of Norfolk. Under Ofgem’s OFTO Tender Round 5 regime, Diamond Transmission Partners RB Limited—owned 51% by Mitsubishi Corporation and 49% by HICL—takes ownership of the operational transmission asset from Race Bank Wind Farm Limited, pays the Final Transfer Value of approximately £472.46 million determined by Ofgem, and receives availability-based regulated revenues over a 20‑year period for operating the 220 kV offshore transmission system.