22nd Dec 2020 11:05
(Alliance News) - International Public Partnerships Ltd on Tuesday said its consortium with Amber Infrastructure and Transmission Investment has been selected as preferred bidder for the long-term license and operation of an offshore transmission project.
The FTSE 250-listed public infrastructure projects and businesses investor noted the scheme comprising the transmission cable connection to East Anglia One Offshore Wind Farm represents the tenth project that consortium Transmission Capital Partners has been awarded.
The East Anglia One offshore wind farm - located around 50 kilometres off the coast of Suffolk - has an installed capacity of 714 megawatts, providing enough green energy to power over 630,000 homes.
International Public Partnerships said it expects to invest up to GBP90 million into the East Anglia One offshore transmission project, with financial close expected in the second half of 2021.
"The company takes no exposure to electricity production or price risk but is paid a pre-agreed, availability-based revenue stream over 21 years which is fully linked to UK inflation," it added.
Shares in IPPL were trading marginally lower at 165.00 pence each on Tuesday morning in London.
By Ife Taiwo; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
International Public Partnerships