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Ofgem, the vitality regulator for Nice Britain, has opened the bidding course of for the transmission property of Dogger Financial institution B, which is an important half of what’s set to develop into the world’s largest offshore wind farm. This vital transfer is geared toward discovering a brand new proprietor for the property forward of the wind farm’s anticipated operational begin subsequent 12 months. The property, essential for a 1.2 GW output, are valued at round £1 billion.
The method started on February 14, 2024, with an Enhanced Pre-Qualification (EPQ) part, inviting events to declare their curiosity and signal a confidentiality settlement. Upon fulfilling these necessities, candidates will obtain detailed details about the property and the phrases of the switch.
The EPQ part is about to conclude on Could 1, 2024, at midday BST, with Ofgem planning to slender down the sector to as many as eight certified bidders by mid-July. The standards for choice concentrate on financial and monetary robustness, asset administration expertise, and a strategic strategy to each takeover and ongoing operations, amongst different monetary and threat administration capabilities.
Ofgem’s tender goals to welcome new gamers into the transmission sector whereas guaranteeing candidates have the technical and monetary competence to handle these important property all through their lifecycle. The choice course of entails a mixture of go/fail assessments and a points-based analysis for these exceeding fundamental {qualifications}.
Following the preliminary choice, the Invitation to Tender stage will kick off, with completion focused for early 2025. This will likely result in a closing Finest and Last Provide stage if a most popular bidder doesn’t emerge. The profitable bidder is predicted to be granted their license inside six months following Ofgem’s closing determination, marking a big milestone within the growth of renewable vitality infrastructure within the UK.