Offshore Transmission Owners: how do OFTOs work?

As you can probably guess, OFTOs are the owners of offshore transmission assets. These assets connect offshore wind farms to the onshore electricity network, and typically include any offshore platforms and associated substations, and export cables, as well as the onshore substation and onshore cables to connect to the Distribution Network Operator substation, as well as all the equipment used to make this work. Basically, everything between the offshore point of connection with the wind farm assets and the onshore point of connection with the onshore network. The reason they exist is that offshore wind farm developers are forbidden by their generation license from also owning transmission assets. But how do they work?

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