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 ongoing operation of the East Anglia One Offshore Transmission assets (the “OFTO”) on 16th December.
The project will be the Consortium’s tenth OFTO investment and relates to the transmission cable connection to the offshore wind farm located approximately 50km off the coast of Suffolk. The wind farm consists of 102 x 7MW wind turbine generators with an installed capacity of 714MW connected to the offshore substation platform located within the boundaries of the East Anglia One wind farm. The OFTO has the capacity to transmit enough renewable electricity to power the equivalent of over 600,000 homes.
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. Newbridge is also working with the Consortium on Moray East OFTO, where the Consortium is preferred bidder.