New transmission link to connect 75 wind turbines to UK grid
The European Investment Bank (EIB) will invest £168m in a new high-voltage transmission link between an offshore Lincolnshire wind-farm and the main UK grid.
The 100km link will run from the 75 turbine Lincs wind farm, 8 km off the Skegness coast, to the national transmission network at an onshore substation in Norfolk.
When operational the wind-farm will produce enough electricity to power 200,000 homes, and contribute to the UK government's strategy of generating 15% of energy from renewable sources by 2020.
The deal was facilitated by Ofgem's Offshore Transmission Owners (OFTO) policy, which encourages an open tender process for the building of transmission links. The process is intended to find the most efficient partners for energy generators and lower transmission costs.
EIB vice-president Jonathan Taylor said: "We are pleased to continue support for offshore wind infrastructure in UK waters and investment in transmission connections under the OFTO regime facilitates new investment in offshore wind farms. This sector is creating hundreds of new jobs along the North Sea coast and supporting manufacturing and research across the country."
This is the sixth connection under the OFTO regime to be supported by the EU-backed long-term lending institution.
It has been a bumper month for transmission links. Just last week the EU announced a €75m funding package to build two subsea cables to connect Britain to European energy grids.
Meanwhile, earlier in October, Ofgem green-lit a 160km subsea link across Northern Scotland