2021-069 Technical Advisor for Offshore Tender Round 5 (TR5)

Description

The Authority runs competitive tenders to grant offshore electricity transmission licences, with the successful bidder becoming the Offshore Transmission Owner (OFTO). OFTO licences confer certain rights and responsibilities on OFTOs, including the right to a regulated revenue stream for a period of up to 20 years in return for provision of transmission services. Through the tender process, interested parties have the opportunity to bid to become an OFTO. The offshore transmission assets that the OFTO takes ownership of are acquired at a transfer value determined by The Authority. Following transfer of ownership, the OFTO owns and manages the transmission assets (including the cables and associated connection equipment) between the offshore point of connection with the generator and the point of connection with the onshore network. The scope of the work in this request includes activities relating to the transaction stage which is the final stage of this tender process. This is the stage where we progress the Preferred Bidder through to Licence Grant and Financial Close.