International PPL consortium appointed preferred bidder to offshore transmission project

Infrastructure investment group International Public Partnerships said on Monday that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure and Transmission Investment, has been appointed as preferred bidder for the long-term license and operation of a further offshore transmission project.

The latest scheme, comprising the transmission cable connection to Dudgeon Offshore Wind Farm represents the seventh such project that Transmission Capital Partners has been appointed to as preferred bidder.

The company expects to invest around £50m, with financial close estimated in the second quarter of next year.

The project relates to the transmission cable connection to the offshore wind farm located 32km off the coast of Cromer in North Norfolk. The windfarm consists of 67 x 6MW wind turbine generators with an installed capacity of 402MW connected to the offshore substation platformlocated within the boundaries of the Dudgeon wind farm.

International PPL said it 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 retail price inflation.

The offshore wind farm connected by this transmission project is owned by affiliates of Statoil, Masdar and Statkraft.