OFTO
| Acronym | Definition |
|---|---|
| OFTO | Offshore Transmission Owner (utilities) |
| OFTO | Ontario Field Trials Online (Ontario Soil and Crop Improvement Association; Canada) |
References in periodicals archive
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Following a competitive tender, TC Westermost Rough OFTO Ltd.
Following a competitive tender, Gwynt y Mor OFTO was selected as preferred bidder for the Gwynt y Mor offshore transmission licence in July 2013 by Ofgem.
According to Balfour Beatty, the Gwynt y Mor OFTO, previously operated by Gwynt y Mor Offshore Wind Farm Ltd.
According to Balfour Beatty, the Gwynt y MA'r OFTO, previously operated by Gwynt y MA'r Offshore Wind Farm Ltd.
In the UK, separate Offshore Transmission Owners (OFTOs) take responsibility for offshore transmission assets under long-term OFTO licences.
Balfour Beatty has co-invested with Equitix on a number of infrastructure projects, including the Greater Gabbard OFTO project, which achieved financial close in November 2013 and the Gwynt y Mor OFTO project, which is expected to achieve financial close in February 2015.
The company also remains preferred bidder on the Gwynt y Mor OFTO in North Wales, which is expected to close in Q1 2015.
OFTO covers wind and tide based offshore projects around the entire offshore area for the UK.
The licensee entity incorporated by the consortium, TC Westermost Rough OFTO Ltd, will be acquiring the assets from Westermost Rough Ltd, owned by Danish utility Dong Energy A/S, Japan's Marubeni Corp and the UK Green Investment Bank (GIB).
The company also remains preferred bidder on the Gwynt y MA'r OFTO in North Wales, which is expected to close in Q1 2015.
The Westermost Rough transmission assets were tendered under round three of the OFTO scheme.
Buyer: Balfour Beatty Plc, Greater Gabbard OFTO Plc
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