- HICL Infrastructure said it together with Diamond Transmission and Chubu Electric Power had been selected by Ofgem as the preferred bidder to own and operate the Walney Extension Offshore Wind Farm offshore transmission link.

The Walney offshore transmission owner represented the fourth successful bid by the partnership of HICL and Diamond Transmission Corporation Limited.

The offshore transmission owner (OFTO) does not have exposure to construction risk, electricity production or power price risk, the company said.

HICL's 40% stake in the Walney OFTO was expected to be worth approximately £23m.

The company said it expected to complete the acquisition towards the end of this calendar year.

At 9:56am: [LON:HICL] HICL Infrastructure Co Ltd share price was +1.8p at 164.6p

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