Preferred bidder appointed for high voltage link to Britain's largest offshore Windfarm
Offshore transmission: Ofgem Press Release
18th September 2012
Ofgem E-Serve has today appointed Blue Transmission as the preferred bidder to own and operate the high voltage link for the London Array (Phase 1) wind farm. This is the largest offshore transmission project to have reached this stage; the estimated value of the assets is £428 million (US$690m). The London Array (Phase 1) windfarm, located in the Thames estuary, has a capacity of 630MW.
Blue Transmission, a consortium comprising Macquarie Capital Group Limited, Barclays Infrastructure Funds Management Limited (acting in its capacity as manager of Barclays Integrated Infrastructure Fund), Mitsubishi Corporation and Frontier Power Limited, was selected by Ofgem E-Serve through a competitive process in which bidders compete to become offshore transmission owners (OFTOs).
Read the full Ofgem Press Release here:
Ofgem Press Release
18th September 2012
Ofgem E-Serve has today appointed Blue Transmission as the preferred bidder to own and operate the high voltage link for the London Array (Phase 1) wind farm. This is the largest offshore transmission project to have reached this stage; the estimated value of the assets is £428 million (US$690m). The London Array (Phase 1) windfarm, located in the Thames estuary, has a capacity of 630MW.
Blue Transmission, a consortium comprising Macquarie Capital Group Limited, Barclays Infrastructure Funds Management Limited (acting in its capacity as manager of Barclays Integrated Infrastructure Fund), Mitsubishi Corporation and Frontier Power Limited, was selected by Ofgem E-Serve through a competitive process in which bidders compete to become offshore transmission owners (OFTOs).
Read the full Ofgem Press Release here:
Ofgem Press Release
Ofgem E-Serve grants offshore transmission owner licence for link to Walney 1 offshore wind farm
Offshore transmission: Press Release
21st October 2011
Frontier Power has supported the consortium from the early stages of the bid and since the ownership of the link transferred to the Blue Transmission consortium, Frontier Power has been responsible for day to day management and operation of the transmission link under an agreement to provide management services to Blue Transmission.
Ofgem Press Release Website:
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Read the full Ofgem Press Release here:
Ofgem Press Release
21st October 2011
Frontier Power has supported the consortium from the early stages of the bid and since the ownership of the link transferred to the Blue Transmission consortium, Frontier Power has been responsible for day to day management and operation of the transmission link under an agreement to provide management services to Blue Transmission.
Ofgem Press Release Website:
Click for more information
Read the full Ofgem Press Release here:
Ofgem Press Release
Frontier Power short-listed in the second round of tenders for offshore transmission links
Frontier Power qualifies to compete for 2nd round of tenders in the GB Offshore Transmission Regime:
26th January 2011
Blue Transmission, a consortium of Macquarie Capital Group, Barclays Infrastructure Funds Management Ltd and Frontier Power Ltd, was today announced as one of the eight bidders which have successfully qualified to compete for three more high-voltage transmission links with offshore wind farms as part of Ofgem E-Serve’s latest competitive tender process. Ultimately the winning bidders will then own and operate the links for the next 20 years.
Today’s announcement is the list of bidders which will compete for the links to the Gwynt y Môr, Lincs and London Array (phase 1) offshore windfarms. These are three of the UK’s largest offshore windfarms, representing over 1.4GW of renewable power. The next stage of the process is to select a shortlist of bidders in spring 2011, which will then go through to the final stage to select the winning tenders this summer*.
Ofgem E-Serve’s Managing Director – Commercial, Robert Hull, said: ”A strong field of bidders competing in this second tender round is further proof that the offshore regulatory regime is very successful in encouraging investment and attracting new players into the transmission sector.” This is the first stage in the second round of tenders in the GB offshore transmission regime, and follows the success of the first round for £1.1 billion of transmission links, which attracted almost £4 billion of investment appetite and is expected to deliver savings of around £350 million.
The three tenders in this current round are worth in total just under US$ 1.75 billion (£1.1 billion). This follows Frontier Power’s success in the 1st round of tenders winning bids worth over US $600m (£390m).
Read the full Ofgem Press Release here:
Ofgem Press Release
26th January 2011
Blue Transmission, a consortium of Macquarie Capital Group, Barclays Infrastructure Funds Management Ltd and Frontier Power Ltd, was today announced as one of the eight bidders which have successfully qualified to compete for three more high-voltage transmission links with offshore wind farms as part of Ofgem E-Serve’s latest competitive tender process. Ultimately the winning bidders will then own and operate the links for the next 20 years.
Today’s announcement is the list of bidders which will compete for the links to the Gwynt y Môr, Lincs and London Array (phase 1) offshore windfarms. These are three of the UK’s largest offshore windfarms, representing over 1.4GW of renewable power. The next stage of the process is to select a shortlist of bidders in spring 2011, which will then go through to the final stage to select the winning tenders this summer*.
Ofgem E-Serve’s Managing Director – Commercial, Robert Hull, said: ”A strong field of bidders competing in this second tender round is further proof that the offshore regulatory regime is very successful in encouraging investment and attracting new players into the transmission sector.” This is the first stage in the second round of tenders in the GB offshore transmission regime, and follows the success of the first round for £1.1 billion of transmission links, which attracted almost £4 billion of investment appetite and is expected to deliver savings of around £350 million.
The three tenders in this current round are worth in total just under US$ 1.75 billion (£1.1 billion). This follows Frontier Power’s success in the 1st round of tenders winning bids worth over US $600m (£390m).
Read the full Ofgem Press Release here:
Ofgem Press Release
Frontier Power Signs Solar Plant MOU at "Vibrant Gujarat" Trade Summit
AHMEDABAD, GUJARAT
12th January 2011
UK’s Frontier Power today signed an MOU agreement with the State Government of Gujarat to build a major solar manufacturing plant for which it will secure financing ($0.7-1bn) and manage its development.
The Indian government is increasingly engaged in carbon mitigation policy and, as part of this objective, it has a range of targets including the National Solar Mission under which solar power will increase to 20GW by 2020 from less than 10MW at end 2009. Achieving this target will require a large scale supporting supply chain, including manufacturing of solar cells and panels.
There are clear economic advantages to India from local manufacturing, and Frontier Power believes that early entry into this segment will be advantageous. It is therefore working with the State of Gujarat to enter into an agreement under which Frontier Power will finance and develop a large solar cell and panel manufacturing facility. Under the agreement, Frontier Power would enjoy certain financial guarantees from the State Government, and would also be a preferred supplier for solar schemes supported by the State Government.
The investment will be made by Frontier Power Solar Ltd (FPSL), a subsidiary of Frontier Power, which will establish a major commercial-scale PV solar cell and panel manufacturing facility in the State of Gujarat capable of producing products with a nominal capacity of up to 1GW per year, making it the largest manufacturing facility of its kind in the country. The total investment to be made will be approximately US$0.7-1 billion, comprised of up to US$150-200 million of equity and US$600-800 million of debt.
Approximately 1,200 persons will be employed in the construction and operation of the plant and there will be investment in training programs for such personnel necessary for the manufacturing of solar cells and panels.
As well as bringing management expertise to the operational and commercial aspects of the project Frontier Power will be able to use its considerable experience in raising large scale finance for power-sector projects to help secure competitive financing for the project
Humza Malik, CEO of Frontier Power said, "I am very pleased that we have secured this initial agreement with the State of Gujarat. We are very proud to be helping invest in the right technology, in the right place, at the right time to help develop sustainable energy in India and to help provide high quality jobs for the people of Gujarat."
About Frontier Power
Frontier Power is a UK based independent operator, asset manager, advisor and fund manager business with deep specialisation in the power sector. Its experience includes generation, transmission and renewable manufacturing. It was created by a group of senior executives with a track record of working together on very large scale transactions in the power sector and its executives have over $50bn of investment experience. Its team has significant international business experience gained in leading UK power companies (including National Grid, PowerGen and National Power) and includes power sector professionals from leading international banks, fund managers and legal firms.
Frontier Power differentiates itself from the traditional power sector investor through its expertise to act both as an operator and asset manager. As a result it is ideally placed to be able to attract international investors into the Indian power sector as well as providing a quality of insight that reduces risks and achieves superior returns relative to traditional investors. It also has the Executive expertise to support local management develop the plant in Gujarat successfully operationally and commercially.
Over the past 18 months Frontier Power has demonstrated progress in three main areas: UK Offshore Transmission, the development of a fund to invest in the Indian power sector, and this investment in solar manufacturing in India.
Frontier Power in consortium with Macquarie and Barclays Capital bid successfully for offshore transmission assets in the UK, helping to promote the efficient development of renewable technologies in that country. This consortium had the financial strength to win the bidding for $600m of transmission assets. Frontier Power is now preparing to take over the operations of these assets, and is working with Macquarie and Barclays on bids for a further $3.5bn of offshore transmission systems in 2011/12.
For further information about Frontier Power and the Gujarat Project please contact:
Bob Tivey, Planning and Development Director
email: bob.tivey@frontierpower.biz
12th January 2011
UK’s Frontier Power today signed an MOU agreement with the State Government of Gujarat to build a major solar manufacturing plant for which it will secure financing ($0.7-1bn) and manage its development.
The Indian government is increasingly engaged in carbon mitigation policy and, as part of this objective, it has a range of targets including the National Solar Mission under which solar power will increase to 20GW by 2020 from less than 10MW at end 2009. Achieving this target will require a large scale supporting supply chain, including manufacturing of solar cells and panels.
There are clear economic advantages to India from local manufacturing, and Frontier Power believes that early entry into this segment will be advantageous. It is therefore working with the State of Gujarat to enter into an agreement under which Frontier Power will finance and develop a large solar cell and panel manufacturing facility. Under the agreement, Frontier Power would enjoy certain financial guarantees from the State Government, and would also be a preferred supplier for solar schemes supported by the State Government.
The investment will be made by Frontier Power Solar Ltd (FPSL), a subsidiary of Frontier Power, which will establish a major commercial-scale PV solar cell and panel manufacturing facility in the State of Gujarat capable of producing products with a nominal capacity of up to 1GW per year, making it the largest manufacturing facility of its kind in the country. The total investment to be made will be approximately US$0.7-1 billion, comprised of up to US$150-200 million of equity and US$600-800 million of debt.
Approximately 1,200 persons will be employed in the construction and operation of the plant and there will be investment in training programs for such personnel necessary for the manufacturing of solar cells and panels.
As well as bringing management expertise to the operational and commercial aspects of the project Frontier Power will be able to use its considerable experience in raising large scale finance for power-sector projects to help secure competitive financing for the project
Humza Malik, CEO of Frontier Power said, "I am very pleased that we have secured this initial agreement with the State of Gujarat. We are very proud to be helping invest in the right technology, in the right place, at the right time to help develop sustainable energy in India and to help provide high quality jobs for the people of Gujarat."
About Frontier Power
Frontier Power is a UK based independent operator, asset manager, advisor and fund manager business with deep specialisation in the power sector. Its experience includes generation, transmission and renewable manufacturing. It was created by a group of senior executives with a track record of working together on very large scale transactions in the power sector and its executives have over $50bn of investment experience. Its team has significant international business experience gained in leading UK power companies (including National Grid, PowerGen and National Power) and includes power sector professionals from leading international banks, fund managers and legal firms.
Frontier Power differentiates itself from the traditional power sector investor through its expertise to act both as an operator and asset manager. As a result it is ideally placed to be able to attract international investors into the Indian power sector as well as providing a quality of insight that reduces risks and achieves superior returns relative to traditional investors. It also has the Executive expertise to support local management develop the plant in Gujarat successfully operationally and commercially.
Over the past 18 months Frontier Power has demonstrated progress in three main areas: UK Offshore Transmission, the development of a fund to invest in the Indian power sector, and this investment in solar manufacturing in India.
Frontier Power in consortium with Macquarie and Barclays Capital bid successfully for offshore transmission assets in the UK, helping to promote the efficient development of renewable technologies in that country. This consortium had the financial strength to win the bidding for $600m of transmission assets. Frontier Power is now preparing to take over the operations of these assets, and is working with Macquarie and Barclays on bids for a further $3.5bn of offshore transmission systems in 2011/12.
For further information about Frontier Power and the Gujarat Project please contact:
Bob Tivey, Planning and Development Director
email: bob.tivey@frontierpower.biz
