FC for Hornsea 2 OFTO

The Hornsea 2 offshore transmission owner (OFTO) contract has reached financial close, with financing from Aviva Investors.

Credit: Getty

The institutional investor will provide the financing for the £1.2bn acquisition of the transmission assets by Diamond Transmission Partners, a joint venture comprising Diamond Transmission UK and HICL Infrastructure.

Located 90km off the Yorkshire coast, Hornsea Two windfarm consists of 165 Siemens Gamesa 8MW turbines with a total installed capacity of 1.3GW.

This is Aviva’s third transaction providing debt financing to Diamond Transmission Partners, having supported its purchases of OFTOs at both Hornsea One and Galloper windfarms.

“With investments like these, we are directing the premiums of our individual and bulk purchase annuity customers into long-term sustainable assets that will contribute to achieving both Aviva’s, and the UK’s, Net Zero ambitions,” said Marcus Mollan, director of annuity asset origination at Aviva UK Life.