Hornsea 1 Limited, a joint venture owned by Ørsted (50 %) and Global Infrastructure Partners (GIP) (50 %), announced that it has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Hornsea One Limited (DTP). DTP is a partnership between Diamond Transmission Corporation Limited (a wholly-owned subsidiary of Mitsubishi Corporation) and Chubu Electric Power Co., Inc.

The transmission assets hold an asset value of GBP 1.175 billion (US$ 1.635 billion). The assets include the onshore substation, export cables, the offshore reactive compensation substation (RCS), and three offshore substations.

Hornsea 1 is an offshore wind farm in the UK, located approximately 120 km off the Yorkshire coast. The wind farm consists of 174 Siemens Gamesa 7 MW wind turbines with an overall capacity of 1,218 MW, enough to power more than one million British homes.