The Blue Transmission consortium, comprising Macquarie Capital Group Limited and Barclays Infrastructure Funds, has completed the transaction to own and operate the transmission link to Sheringham Shoal wind farm.

Energy regulator Ofgem awarded the licence to the consortium, which also includes Mitsubishi subsidiary Diamond UK Transmission Corporation and asset manager Frontier Power.

The 317MW Sheringham Shoal project off the coast of North Norfolk is owned and operated by Statoil and Statkraft. The two firms built the project's transmission link via a specially created company, Scira Offshore Energy.

Blue Transmission is buying the link for £193 million, making it the largest transaction to reach financial close so far in the Ofgem's Offshore Transmission Owne (OFTO) regime. It brings the total amount of investment in the first tender round of the OFTO regime to around £660 million.

Blue Transmission also owns the OFTO leases for Walney 1 and 2, and London Array 1.