Smith Square Partners is pleased to announce that its consortium has been selected by the Office of Gas and Electricity Markets (“Ofgem”) to advise on the competitive tender process to select the offshore transmission owners (“OFTOs”) of the electricity transmission assets for Hornsea Two. This will be the largest offshore windfarm in the world when it becomes operational in 2022. The auction will be conducted under the Tender Round 8 process (“TR8”). This follows the consortium’s appointment in 2020 as financial adviser to Ofgem on Tender Round 7 (“TR7”)
The Smith Square Partners consortium for both TR7 and TR8 comprises Centrus and CEPA, with tax advice provided by BDO and forensic cost reviews by Grant Thornton.
Hornsea Two will span an offshore area of 462km² and will be located approximately 89km off the Yorkshire coast in the North Sea, adjacent to Hornsea One – currently the world’s largest offshore windfarm. Hornsea Two will have a capacity of 1.4 GW and will provide power to over 1.3 million homes in the UK.
Smith Square Partners
Advised in the sale of
transmission cable assets for the Triton Knoll and Moray East offshore wind farms
to