The consortium was chosen by Ofgem to become the offshore transmission owner (OFTO) following a competitive bidding process.
The license was awarded to Blue Transmission over three rival bidders: a Balfour Beatty-Equitix joint venture; John Laing Investments; and Transmission Capital Partners.
According to Ofgem, the value of transmission assets total £296 million (EUR 372 million).
Blue Transmission is a consortium comprising investment groups Macquarie Capital and 3i BIFL, and operator Frontier Power.
It is also the OFTO at the nearby Walney 1 and 2 projects, plus Sheringham Shoal and London Array on the UK's east coast.
The turbine installation at the West of Duddon Sands project, 14 kilometres off the Cumbrian coast, north-west England, was completed last month.
The project, being co-developed by Dong Energy and Scottish Power, uses 108 Siemens 3.6MW turbines and is expected to be fully operational by the end of the year.