16th Feb 2024 09:36
International Public Partnerships Ltd - Guernsey-based infrastructure investment company - Reports that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure Group and Transmission Investment, completes its acquisition of Moray East offshore transmission assets which connects the onshore electricity grid to the Moray East wind farm located in the Moray Firth off the coast of Scotland. The Moray East OFTO, or offshore transmission owner, will be INPP's 11th OFTO investment and has the capacity to transmit renewable electricity to power about 1.0 million homes. This increases the company's total equivalent across the OFTO portfolio to around 3.7 million homes.
INPP Chair Mike Gerrard says: "The board has carefully considered the merits of the Moray East investment and, as previously announced, believes that the acquisition is favourable relative to alternative capital allocation options. In addition, the acquisition builds on the company's contribution to a net-zero-carbon economy."
Current stock price: 125.09 pence each, up 1.4% on Friday morning in London
12-month change: down 17%
By Tom Budszus, Alliance News slot editor
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