International Public Partnerships gets another OFTO project – International Public Partnerships Limited (INPP) says 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 Beatrice Offshore Wind Farm represents the ninth project that Transmission Capital Partners has been appointed to, as preferred bidder. INPP expects to invest up to GBP60 million, with financial close to occur later in 2020.
The project relates to the transmission cable connection to the offshore wind farm located in the Outer Moray Firth, 13.5km off the Caithness coastline in Scotland. The wind farm consists of 84 x 7MW wind turbine generators with an installed capacity of 588MW connected to two offshore substation platforms located within the boundaries of the Beatrice wind farm. It is Scotland’s largest offshore wind farm.
This investment will increase the company’s contribution to the UK’s transition to a zero carbon economy. The Beatrice OFTO will transmit green electricity equivalent to around 450,000 UK homes, increasing the number of homes that are powered by the company’s OFTO portfolio to approximately 2 million homes.
INPP takes no exposure to electricity production or price risk but is paid a pre-agreed, availability-based revenue stream over 23 years which is fully linked to UK inflation (based on RPI).
The offshore wind farm connected by this transmission project is owned by SSE Renewables (40%), Copenhagen Infrastructure Partners (35%) and SDIC Power (25%).
INPP : International Public Partnerships gets another OFTO project