Financial close achieved for transmission link project of 588 MW wind farm in Scotland

International Public Partnerships Limited has announced that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure Group and Transmission Investment has successfully reached financial close for the long-term ownership and operation of the transmission link to the 588MW Beatrice offshore wind farm (the ‘OFTO’), Scotland's largest operational offshore wind farm.

The project relates to the transmission cable connection to the offshore wind farm located in the Outer Moray Firth, approximately 13.5km off the Caithness coastline in Scotland. The wind farm consists of 84 x 7MW wind turbine generators connected to two offshore substation platforms located within the boundaries of the Beatrice wind farm.

The Beatrice OFTO will transmit green electricity equivalent to around 450,000 UK homes, increasing the number of homes that are powered via the Company's OFTO portfolio to approximately 1.8 million homes.

The Company will make a GBP50 million (USD69.52 million) investment for 100% of the equity and subordinated debt in TC Beatrice OFTO Ltd. Project level senior debt will be provided by a range of banks and institutional investors to match the maturity of the OFTO such that there is no refinancing risk.