12/03/2025Smith Square Partners Consortium acts as financial adviser to Ofgem on the £621 million completed transfer of Seagreen offshore wind farm transmission link from Seagreen Wind Energy Limited (SWEL), a joint venture between SSE Renewables and TotalEnergies to EKITD which is a consortium formed of Equitix and Kyuden International Corporation and Kyushu Electric Power Transmission and Distribution Company (“Kyuden Group”).
On 6th March, 2025 Ofgem announced its confirmation to grant an Offshore transmission licence to EKITD. This sees the transfer of the £621 million offshore transmission link from SWEL – a joint venture between SSE Renewables and TotalEnergies, the developer of the Seagreen offshore wind farm, to London based Equitix Limited and Kyuden Group, a Japanese utility company headquartered in Fukuoka.
The Seagreen wind farm consists of 114 turbines, has a capacity of 1075MW and is located 64km from the Angus coast in the North Sea.
The Smith Square Partners Consortium has been advising Ofgem in relation to sales of offshore wind farm transmission assets since 2020 when it was first appointed by Ofgem for Tender Round 7 and continues to advise on tender rounds up to and including Tender Round 12. Its advice has related to transmission assets for eight offshore wind farms with a projected generation capacity of c.8 GW and combined asset values of c.£7 billion.
The Consortium comprises financial advisers Smith Square Partners and Centrus, with CEPA providing financial and related economic advice, tax advice provided by BDO and forensic cost reviews provided by Grant Thornton.
For more information, please contact Scott Wilsher
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