As part of the Offshore Transmission Owners (OFTO) the company will carry out its responsibilities through a 20-year licence, seeing the creation of new jobs in the renewable industry and boosting the trades.
Balfour Beatty, in a consortium with Equitix, will jointly own the 576 MW offshore high-voltage transmission asset and will be responsible for the wind farm’s operation and maintenance as well as connecting it to the onshore electricity transmission system.
Balfour Beatty has also recently been selected by Ofgem, the UK Government’s regulator for gas and electricity markets, to participate in the next round of bidding which will commence later this year for the West of Duddon Sands project which has an estimated transfer value of £310 million.
Chief Executive of Balfour Beatty Andrew McNaughton said: “Gwynt y Môr is a significant step in the development of our investment business in non-PPP infrastructure markets, as well as our wider strategy of developing our delivery capability in the offshore renewables industry. It firmly places Balfour Beatty in a leading position within the fast growing and potentially very large offshore transmission markets.”
“Today’s announcement follows the competitive tender process initiated by Ofgem for the Gwynt y Môr offshore electricity transmission assets. Balfour Beatty’s success reflects its expertise in infrastructure investment and its long-standing experience in the maintenance of offshore transmission assets.”