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RWE Finalizes Sale of Triton Knoll Assets to OFTO

RWE has confirmed the sale of the transmission assets of the Triton Knoll offshore wind farm to Triton Knoll OFTO Limited, marking a key milestone in the development of wind power in the UK.
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RWE announces that it has completed the sale of the transmission assets of the Triton Knoll offshore wind farm to Triton Knoll OFTO Limited, an entity owned by ETEPCO, a consortium formed by UK-based Equitix Limited and TEPCO Power Grid Incorporated of Japan. This sale is an important step in the UK regulatory framework requiring the disposal of transmission assets for offshore wind projects. The transaction was finalized following a competitive selection process conducted by UK regulator Ofgem in November 2021, granting Equitix and TEPCO Power Grid the right to own and operate Triton Knoll’s transmission infrastructure for 23 years.

Implications and Contributions of Triton Knoll

The Triton Knoll offshore wind farm, located around 32 kilometers from the Lincolnshire coast and 45 kilometers from the Norfolk coast, represents a key project in the UK’s energy strategy. With a generating capacity of 857 megawatts (MW) and comprising 90 turbines, each measuring 164 meters in height, the wind farm can supply enough electricity to meet the needs of around 935,000 homes every year. The project illustrates the UK’s commitment to renewable energy and plays a crucial role in reducing carbon emissions. Construction of Triton Knoll was completed in April 2021, and all turbines were fully operational by January 2022.

RWE and Partners in Triton Knoll

As operator of the park, RWE holds a 59% majority stake in Triton Knoll. Other partners include J-POWER with 25% and Kansai Electric Power with 16%. Sven Utermöhlen, CEO of RWE Offshore Wind, expressed his satisfaction at the conclusion of this transaction, underlining the importance of continued collaboration with Triton Knoll OFTO Limited. Expected profits from this sale amount to GBP 572.7 million, reflecting the importance and value of the project in the wind energy sector.

Impact and legacy of Triton Knoll

Triton Knoll leaves a significant legacy for the future of wind energy in the region. The purpose-built Triton Knoll Operations & Maintenance Center is being expanded to become the new ‘Grimsby Hub’, which will support existing and future projects operated by RWE. This expansion symbolizes not only RWE’s commitment to wind power, but also its determination to develop sustainable, efficient infrastructures for the future.

The completion of the sale of Triton Knoll’s transmission assets marks an important milestone in the UK offshore wind energy sector. It reflects the growing dynamism of the renewable energies sector and underlines the importance of strategic partnerships in achieving ambitious energy goals.

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