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| Balfour Beatty appointed preferred bidder for OFTO asset Engineering giant Balfour Beatty announces that it has been appointed preferred bidder for the transmission assets of the Thanet offshore wind farm project, located off the most eastern part of Kent, as part of the Offshore Transmission Owners regulatory regime. Once financial close has been achieved, Balfour Beatty will own, operate and maintain the offshore high-voltage transmission asset, which will connect the wind farm to the onshore electricity transmission system, through a 20-year licence awarded by Ofgem, the Government regulator for gas and electricity markets. The indicative transfer value of the asset is £163 million. Balfour Beatty will invest 100% of the required equity in the project upon financial close, which is expected to be in 2010. Balfour Beatty is also one of the bidders for the £101 million offshore transmission assets of the Ormonde offshore wind farm project, located in the Irish Sea off Barrow-in-Furness, which Ofgem announced has entered a further round of bidding. write your comments about the article :: © 2010 Construction News :: home page |