Transmission Capital Partners, the consortium comprising Transmission Capital Partners LP (TCP LP) and International Public Partnerships Limited (INPP) has reached financial close for the long-term license and operation of its seventh UK offshore transmission project, Dudgeon (the OFTO).
INPP will make a c.£46 million investment for 100% of the equity and subordinated debt of the OFTO, with the senior debt for the project of c.£273 million provided through a public bond listed on the Irish Stock Exchange.
The OFTO will connect a windfarm containing sixty-seven 6MW turbines located 32km off the coast of Norfolk to the onshore grid network, providing enough electricity to power around 410,000 UK homes. The OFTO will be managed by Transmission Capital Services Limited (a subsidiary of TCP LP) under a management services agreement.