International Public Partnership Ld Ofgem announcement on Lincs OFTO (0213S)
September 18 2014 - 6:07AM
UK Regulatory
TIDMINPP
RNS Number : 0213S
International Public Partnership Ld
18 September 2014
18 September 2014
Ofgem announcement on Lincs offshore transmission cable
investment
International Public Partnerships Limited ('INPP') notes that
Ofgem has, as anticipated, today published a notice under Section
8A of the Electricity Act 1989 relating to the Lincs OFTO
project(1) . This is a key step towards reaching financial close on
the investment that the Company expects to make in the project.
This investment is now expected to be made in November 2014 and
would be the Company's fifth OFTO project.
Transmission Capital Partners (a consortium including INPP and
its Investment Adviser Amber Infrastructure) expects to invest
approximately GBP170 million in the project which links the 270MW
Lincolnshire wind farm to the National Grid via 100km of subsea
cables and other related infrastructure including substations. INPP
will take no exposure to electricity production or price risk, and
will be paid via a pre-agreed, availability-based revenue stream
over 20 years which is fully linked to UK inflation (RPI).
Further details of the project will be announced at the time of
the investment being made.
1 Offshore electricity transmission owner licensed entity.
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
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), private finance initiative (PFI), regulated
asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 115 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and utility and transmission
projects in the U.K., Europe, Australia and Canada. INPP seeks to
provide its shareholders with both a long-term 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 over 75 dedicated staff who manage, advise on and
originate projects for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAENPFEKLEFF
International Public Par... (LSE:INPP)
Historical Stock Chart
From Jun 2024 to Jul 2024
International Public Par... (LSE:INPP)
Historical Stock Chart
From Jul 2023 to Jul 2024