International Public Partnerships Consortium awarded preferred bidder - OFTO project (5202J)
22 Diciembre 2020 - 3:50AM
UK Regulatory
TIDMINPP
RNS Number : 5202J
International Public Partnerships
22 December 2020
CONSORTIUM AWARDED PREFERRED BIDDER - OFTO PROJECT
22 December 2020
International Public Partnerships Limited ('the Company',
'INPP'), the listed infrastructure investment company, is pleased
to announce 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
('OFTO').
The latest scheme, comprising the transmission cable connection
to East Anglia One Offshore Wind Farm represents the tenth such
project that Transmission Capital Partners has been appointed to,
as preferred bidder. The Company expects to invest up to GBP90
million into East Anglia One OFTO, with financial close estimated
in the second half of 2021.
This investment commitment is in addition to the Company's
extremely strong near term OFTO pipeline where it has already been
appointed preferred bidder on Rampion and Beatrice OFTOs,
representing additional investment commitments of up to GBP100
million. These OFTOs are also expected to reach financial close
during the course of 2021.
The East Anglia One offshore windfarm is located c.50km off the
coast of Suffolk. East Anglia One has an installed capacity of
714MW providing enough green energy to power over 630,000 homes,
thereby increasing the number of homes that are powered by the
Company's OFTO portfolio to over two million homes.
The Company takes no exposure to electricity production or price
risk but is paid a pre-agreed, availability-based revenue stream
over 21 years which is fully linked to UK inflation ('RPI').
The offshore wind farm connected by this transmission project
is, as at the time of the bid submission, jointly owned by Scottish
Power Renewable (UK) Limited (60%) and Bilbao Offshore Holding
Limited (40%) (part of the Green Investment Group).
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 .
ENDS.
For further information:
Erica Sibree/Amy Edwards +44 (0)20 7939 0558/0587
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
About International Public Partnerships:
INPP is a listed infrastructure investment company that invests
in global public infrastructure projects and businesses, which
meets societal and environmental needs, both now, and into the
future.
INPP is a responsible, long-term investor in 130 infrastructure
projects and businesses. The portfolio consists of utility and
transmission, transport, education, health, justice and digital
infrastructure projects and businesses, in the UK, Europe,
Australia and North America. INPP seeks to provide its shareholders
with both a long-term yield and capital growth.
Amber Infrastructure Group ('Amber') is the Investment Adviser
to INPP and consists of 130 staff who are responsible for the
management of, advice on and origination of infrastructure
investments.
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END
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