INPP International Public Partnerships Ld

 

TIDMINPP 
 
RNS Number : 1850V 
International Public Partnership Ld 
28 October 2010 
 

 
28 October 2010 
 
 
            Transmission Capital Partners Consortium Awarded Further 
                          Offshore Transmission Project 
 
 
International Public Partnerships Limited (INPP), the listed infrastructure 
investment company, is pleased to announce that Transmission Capital Partners, 
the consortium comprising Amber Infrastructure, Transmission Capital and INPP, 
has been appointed as preferred bidder for the long-term license and operation 
of a further offshore transmission project. 
 
The latest scheme is the penultimate of nine projects to be awarded by Ofgem as 
part of the first offshore transmission tender round and it represents the 
fourth such project that Transmission Capital Partners has been appointed to, as 
preferred bidder. 
 
The project relates to the transmission cable connection to the offshore wind 
farm at Ormonde in the Irish Sea, 10km off Barrow-In-Furness. On completion in 
2011, the wind farm will have generation capacity of approximately 150MW, 
sufficient to supply the equivalent of approximately 100,000 homes per year with 
clean power. 
 
The four offshore transmission projects now awarded to Transmission Capital 
Partners have a total purchase price of GBP244 million (including GBP101 million 
for Ormonde) and comprise onshore/offshore substations and under-sea cables 
connecting the mainland electricity grid network to the offshore wind farms. The 
concession term for each project is 20 years and is fully indexed to UK RPI. 
Further financial information will be available following financial close. 
 
The consortium remains shortlisted for a further offshore transmission project, 
which is expected to be awarded by Ofgem in early 2011. Further concessions are 
expected to be developed as the offshore generation industry expands with a 
total development value of up to GBP14bn expected over the next nine years. 
 
Giles Frost, Director of Amber, said: "We are delighted to have also been 
selected for the award of the Ormonde project announced by Ofgem today. The 
latest win is testament to the unrivalled combined expertise that we have with 
our partners Transmission Capital in this specialist area. 
 
"We expect renewable energy projects such as these to be a key focus of the 
Government going forward and these projects will be the foundation of a 
long-term commitment by Amber and INPP to the offshore transmission and 
renewable energy sectors." 
 
A copy of the Ofgem press release can be found at www.ofgem.gov.uk 
 
 
For further information: 
 
Bianca Francis                                                 +44 (0)20 7939 
0558 
Amber Fund Management Limited 
 
Nick Westlake/Hugh Jonathan                            +44 (0)20 7260 1345/1263 
Numis Securities 
Ed Gascoigne-Pees/Ed Berry                              +44 (0)20 7269 
7132/7297 
 Financial Dynamics 
 
 Notes to Editors: 
About International Public Partnerships (INPP): 
International Public Partnerships (INPP) is a listed infrastructure investment 
company which invests in global public infrastructure projects developed under 
the public private partnerships (PPP) and private finance initiative (PFI) 
procurement methods. Listed in 2006, INPP is a long-term investor in 53 social 
and transport infrastructure projects, including schools, hospitals, courts, 
police headquarters and rolling stock in the UK, Europe, Australia and Canada. 
INPP seeks to provide its shareholders with both a long-term government-backed 
yield and capital growth through investment across both construction and 
operational phases of 25-40 year concessions. Amber Infrastructure Group (Amber) 
is the Investment Advisor to INPP and consists of 50 dedicated infrastructure 
specialists which originate and source a strong pipeline of projects for INPP. 
 
About Transmission Capital: 
Transmission Capital was established in 2008 to procure, construct, own and 
operate transmission assets, initially those in the UK being tendered through 
the new offshore transmission regulatory regime being overseen by Ofgem. It also 
provides transmission development advisory services to electricity industry 
stakeholders, including many offshore wind developers. The senior management 
team has over 70 years experience in the UK electricity supply industry, the 
majority of which has been focussed on the development, procurement and 
construction of major offshore transmission and wind projects. 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCFELFEAFSSEDS 
 

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