This study presents a cost comparison between commercially available high-voltage DC (HVDC) and extra highvoltage AC shore connection (±320 kV voltage source converter and 420 kV-50 Hz single-core and three-core cables), for a 1 GW offshore wind farm cluster, considering transmission distances up to 400 km. The HVDC system is a point-to-point connection whereas multiple AC intermediate compensating stations are envisaged for AC when needed. Capital costs are evaluated from recently awarded contracts, operating costs include energy losses and missed revenues due to transmission system unavailability, both estimated using North Sea wind production curves. Optimal AC intermediate compensation, if any, and reactive profiles are also taken into account. Resultsshow that HVDC has lower transmission losses at distances in excess of 130 km; however, due to the combined effect of lower AC capital cost and unavailability, using three-core aluminium cables can be more convenient up to 360 km distance.