Ofgem has granted a licence to Transmission Capital Partners to own and operate the £297.9 million transmission link to the Dudgeon offshore wind farm.
Located off the coast of Cromer, Norfolk, it has a capacity of 402MW and is expected to generate enough electricity to power nearly 410,000 homes in the UK every year.
The organisation is a consortium comprising International Public Partnerships Limited, Amber Infrastructure Group and Transmission Investment and was selected through a tender process in which bidders compete to become Offshore Transmission Owners (OFTOs).
Ofgem and the government launched the OFTO regime in 2009 and has saved at least £700 million across the first three tender rounds.
Since then, winning bidders have invested more than £3.3 billion in links and generation assets so far and connected more than 5GW of offshore wind farms.