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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 2023.

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.

Insights

Newbridge’s Partner for Regeneration and Development, will be co-chairing a panel at UKREiiF in Leeds to explore what has been accomplished so far at Meridian Water in Enfield.

Newbridge’s Regeneration and Development Team is advising Enfield Council on the procurement of a development partner to deliver up to 600 new homes at Meridian 13.

Newbridge chaired a roundtable between housing associations and three leading funders to explore the potential positive impact of SLLs in the social housing sector.