Finance, operate and maintain an offshore transmission link.
Under the offshore transmission owner (“OFTO”) regime, the OFTO takes ownership of an operational transmission asset and receives contractual, availability-based revenues over a 20-year period. The OFTO does not have exposure to construction risk, electricity production or power price risk.
RES (Renewable Energy Systems) will provide certain operations and maintenance services for DTP under a long-term subcontract.
Financial close was achieved in October 2019.
Capital expenditure was £473m.