International Public Partnerships OFGEM announcement on Moray East OFTO investment (4684X)
2023年12月20日 - 6:52PM
RNSを含む英国規制内ニュース (英語)
TIDMINPP
RNS Number : 4684X
International Public Partnerships
20 December 2023
OFGEM ANNOUNCEMENT ON MORAY EAST OFTO INVESTMENT
20 December 2023
International Public Partnerships Limited, the listed
infrastructure investment company ('the Company', 'INPP'), notes
that Ofgem, as anticipated, published a notice under Section 8A of
the Electricity Act 1989 on 20 December 2023 relating to the Moray
East 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. The Company expects to invest up to
c.GBP85 million into the project upon financial close, anticipated
to be in February 2024.
The Moray East OFTO relates to the offshore electricity
transmission assets connecting to the Moray East wind farm located
in the Moray Firth off the coast of Scotland.
This investment will represent the Company's eleventh OFTO
investment and will further increase the Company's contribution to
the UK's transition to a net zero carbon economy. The Moray East
OFTO has the capacity to transmit sufficient renewable electricity
to power the equivalent of c.1.0 million homes, increasing the
total equivalent across the Company's OFTO portfolio to c.3.7
million homes.
At financial close, the OFTO will be granted a 23-year revenue
period during which it will have no exposure to electricity
production or price but will be paid an availability-based revenue
stream linked to UK inflation (as measured by the Retail Price
Index).
ENDS.
For further information:
Erica Sibree +44 (0) 7557 676 499
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 7703 330 199 / (0) 7807 296 032
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 140
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, New Zealand 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 over 170 staff who are responsible for the
management of, advice on and origination of infrastructure
investments.
[1] Offshore electricity transmission owner licensed entity.
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END
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December 20, 2023 04:52 ET (09:52 GMT)
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