UK energy regulator Ofgem has applied to the European Investment Bank for up to £300 million financing towards Round 2A offshore wind transmission projects, bank records showed August 25. A similar amount was put up by the EIB for the UK's first round of offshore transmission projects. The proposed finance concerns construction of subsea power links to three offshore wind farms in the second tender round of the UK's OFTO (Offshore Transmission Owner) regime. OFTO licences are being awarded by Ofgem through open tenders. Successful bidders earn a stable, regulated income over 20 years. The funds would be disbursed to successful bidders to help finance acquisition of the links from the relevant developers, an Ofgem spokesman told Platts.
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