16th Nov 2021 10:31
International Public Partnerships Ltd - London-based infrastructure investor - Says financial close on deal for long-term ownership of 400 megawatt Rampion offshore wind farm reached. Rampion is located in Sussex, UK. INPP is part of consortium which also includes Amber Infrastructure Group and Transmission Investment. INPP invests GBP35 million for equity and subordinated debt in TC Rampion OFTO Ltd. OFTO stands for offshore transmission assets.
"The company takes no exposure to electricity production or price risk but is paid a pre-agreed, availability-based revenue stream over 20 years which is fully linked to UK inflation," INPP adds.
On the asset, company says: "The Rampion OFTO has the ability to transmit green electricity equivalent to around 350,000 UK homes, increasing the number of homes that could be powered via the company's OFTO portfolio to approximately 2.1 million homes."
Current stock price: 171.40 pence
Year-to-date change: up 0.7%
By Eric Cunha; [email protected]
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