International Public Partnerships OFGEM Announcement on Rampion OFTO Investment (4245N)
29 Septiembre 2021 - 8:57AM
UK Regulatory
TIDMINPP
RNS Number : 4245N
International Public Partnerships
29 September 2021
OFGEM ANNOUNCEMENT ON RAMPION OFTO INVESTMENT
29 September 2021
International Public Partnerships Limited ('INPP' or 'the
Company'), the listed infrastructure investment company, notes that
Ofgem, as anticipated, published a notice under Section 8A of the
Electricity Act 1989 on 28 September 2021 relating to the Rampion
Offshore Transmission project ('OFTO') [1] . This is a key step
towards reaching financial close on the investment that the Company
expects to make in the project. As previously reported, the Company
expects to invest c.GBP40 million into the project upon financial
close, anticipated to be in November 2021.
The project will be the Company's ninth OFTO investment and
relates to the transmission cable connection to the offshore wind
farm located 13km off the Sussex coast. The wind farm consists of
116 x 3.45MW wind turbine generators with an installed capacity of
400MW connected to the offshore substation platforms ('OSP')
located within the boundaries of the Rampion wind farm.
This investment will further increase the Company's contribution
to the UK's transition to a zero-carbon economy. The Rampion OFTO
will transmit green electricity equivalent to around 350,000 UK
homes, increasing the number of homes that are powered by the
Company's OFTO portfolio to approximately 2.1 million homes.
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').
As previously announced, the Company is also preferred bidder on
East Anglia One OFTO.
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):
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 over 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 150 staff who are responsible for the
management of, advice on and origination of infrastructure
investments.
[1] Offshore electricity transmission owner licensed entity.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STRDKCBPNBKDPCB
(END) Dow Jones Newswires
September 29, 2021 09:57 ET (13:57 GMT)
International Public Par... (LSE:INPP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
International Public Par... (LSE:INPP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024