StockMarketWire.com - Listed infrastructure investment company HICL Infrastructure said it, together with Diamond Transmission, had completed the acquisition of the transmission assets from Race Bank offshore windfarm. The transaction was part of Tender Round 5 of Ofgem's Offshore Transmission Owner (OFTO) programme. HICL and Diamond Transmission won the tender in June 2018. The Race Bank OFTO facilitated the transmission of renewable energy to over 500,000 UK homes, contributing to the UK's transition to a low-carbon economy. Under the OFTO regime, Diamond Transmission Partners – a consortium including HICL and Diamond Transmission -- would take ownership of the operational transmission asset of Race Bank and receive contractual, availability-based revenues over a 20-year period.

At 8:03am: [LON:HICL] HICL Infrastructure Co Ltd share price was +0.6p at 162.8p



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