International Public Partnership Ld Consortium Preferred Bidder for 7th OFTO Project (5062X)
November 27 2017 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 5062X
International Public Partnership Ld
27 November 2017
TRANSMISSION CAPITAL PARTNERS CONSORTIUM AWARDED PREFERRED
BIDDER FOR FURTHER OFFSHORE TRANSMISSION PROJECT
27 November 2017
- CONSORTIUM AWARDED PREFERRED BIDDER FOR SEVENTH OFTO PROJECT -
International Public Partnerships Limited ('the Company',
'INPP'), the listed infrastructure investment company, is pleased
that Transmission Capital Partners, the consortium comprising INPP,
Amber Infrastructure and Transmission Investment has been appointed
as preferred bidder for the long-term license and operation of a
further offshore transmission project.
The latest scheme, comprising the transmission cable connection
to Dudgeon Offshore Wind Farm represents the seventh such project
that Transmission Capital Partners has been appointed to, as
preferred bidder. The Company expects to invest c.GBP50 million,
with financial close estimated in the second quarter of 2018.
The project relates to the transmission cable connection to the
offshore wind farm located 32km off the coast of Cromer in North
Norfolk. The windfarm consists of 67 x 6MW wind turbine generators
with an installed capacity of 402MW connected to the offshore
substation platform (OSP) located within the boundaries of the
Dudgeon wind farm.
The Company takes no exposure to electricity production or price
risk but is paid a pre-agreed, availability-based revenue stream
over 20 years which is fully linked to UK inflation ('RPI').
The offshore wind farm connected by this transmission project is
owned by affiliates of Statoil ASA (35%), Masdar (35%), and
Statkraft AS (30%).
Additional information on the project will be realised on
financial close.
A copy of the Ofgem press release can be found at
www.ofgem.gov.uk
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
Notes to Editors:
About International Public Partnerships:
International Public Partnerships ('INPP') is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships ('PPP'), regulated asset and other similar procurement
methods.
Listed in 2006, INPP is a long-term investor in 127 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and utility and transmission
projects in the UK, Europe, Australia and North America.
INPP seeks to provide its shareholders with both a long-term
yield and capital growth through investment across both
construction and operational phases typically of 25-40 year
concessions.
Amber Infrastructure Group ('Amber') is the Investment Adviser
to INPP and consists over 100 dedicated staff who manage, advise on
and originate investments for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
About Transmission Investment:
Transmission Investment is a leading developer and manager of
electricity transmission systems in the UK. As part of the
Transmission Capital Partners consortium Transmission Investment
and Amber Infrastructure manage six offshore wind farm connections
under the UK's offshore transmission owner ("OFTO") regime.
Transmission Investment is also an experienced developer of
interconnector projects currently developing the FAB interconnector
project between Britain and France via Alderney.
This information is provided by RNS
The company news service from the London Stock Exchange
END
PFUEZLFLDFFXFBB
(END) Dow Jones Newswires
November 27, 2017 02:00 ET (07:00 GMT)
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