Newbridge advises Transmission Capital Partners on Moray East OFTO

March 25, 2024 Published by

Transmission Capital Partners, a consortium comprising International Public Partnerships Ltd (“INPP”), Amber Infrastructure Group and Transmission Investment (the “Consortium”) successfully reached financial close for the long-term ownership and operation of the Moray East Offshore Transmission assets (the “OFTO”) on 15 February.

The project will be the Consortium’s eleventh OFTO investment and relates to the transmission cable connection to the Moray East wind farm located approximately 22km off the coast of Scotland in the Moray Firth. The wind farm consists of 100 turbines that can produce 950MW of clean energy, enough to power over 1.4 million homes. The OFTO includes a 220kV 3-cable connection to the wind farm and the new onshore substation facilities at New Deer in Aberdeenshire.

Newbridge advised the Consortium on the raising of project level senior debt from a group of banks and institutions plus associated interest rate and inflation hedging.