Fid Financial Close

Ofgem's November 2025 ECF decision states that SHET is expected to submit the eight individual ASTI Project Assessment (ASTI PA) cases - which include the Western Isles HVDC Link (BIDC) - during the summer and winter of 2026. For the Western Isles project the ASTI PA submission is the regulated-TO analogue of FID / financial close: it triggers Ofgem's full cost assessment and the award of the main ASTIA allowance under Special Condition 3.41 of SHET's electricity transmission licence, after which the Early Construction Funding (currently 11 percent of total project spend) is rolled into a fully sanctioned funding envelope. SHET has been given a 20 percent ECF cap of which 9 percent of headroom remains, indicating that an FPA-level commitment is the next major financial milestone. Anchored to year 2026 to reflect the H2 2026 submission window stated by Ofgem; the corresponding ASTI PA decision itself will follow once Ofgem completes its cost assessment.