Hong Kong billionaire Li Ka-shing has spent years expanding his business empire in Western countries. Credit: REUTERS/Bobby Yip
Of course, consumers pay their own bills for transmission, so effective asset management reduces costs. The companies will also be able to bid for transmission assets at the Neart na Gaiothe offshore wind farm off the coast of Fife and the Moray West offshore wind farm off the coast of Inverness.
UK Power Networks is wholly controlled by the conglomerate the Lee CK Hutchison family, who also owns Northern Gas Networks, Northumbrian Water, Wales & West Utilities and Port of Felixstowe.
Rebecca Barnett, Chief Network Officer, Ofgem, said: “As we bring more and more large offshore transmission assets to market, we are seeing growing investor interest and new consortiums to bid on.
“This is an increasingly competitive area. great for consumers because the added competitive pressure ultimately helps drive down energy costs.
“Many investors are looking for environmentally friendly, sustainable investments that offer stable income linked to an index, which is exactly what [marine transmission assets] provide.
“With the flood of multi-billion dollar assets that will hit the market over the next few years, there will be many opportunities for more investors and consortiums to come forward and get involved.” of offshore transmission assets will be put up for sale as the UK government aims to increase offshore wind farm capacity to 50 gigawatts by 2030.
The regulator has used the offshore transmission asset regime for eleven years, so far in investment for 24 assets.
Mr. Lee has been expanding his business empire in Western countries for many years, buying reliable and regulated utilities, especially in the UK.
In 2010, his company bought the UK power distribution business EDF, now known as UK Power Networks. — for 5.8 billion pounds.
1705 Total installed offshore wind power in the UK.
The distribution network is the largest in the UK and supplies electricity to 20 million people in London, the East and South East of England.
In 2012, he also added Wales and West Utilities to his empire, paying for the company £645 million
The distribution network of Wales and the West supplies electricity to 7.4 million consumers and also includes a 35,000 kilometer gas main.
The tycoon, nicknamed «Superman» for his business acumen, has been making a name for himself in Hong Kong for decades . Kong and around the world at the helm of his conglomerate, which covers everything from container ports to telecommunications.
In Hong Kong, his interests cover much of daily life, from Internet services to supermarket chains.
< p>Abroad, his family has operations in the UK, the Netherlands, New Zealand and Portugal, and according to Forbes, their companies employ more than 300,000 people in 50 countries.But in 2018, Mr. Lee, then the richest man in Hong Kong, retired from running his business at the age of 89.
In a massive reorganization of a vast business empire, he handed over the reins to his eldest son Victor.
However, 95 Li is still a senior advisor and is worth an estimated $37 billion.
According to Forbes, he is the 33rd richest person in the world.
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