|Project name:||UK: Lincs offshore transmission project (OFTO)|
Own and run the Lincolnshire offshore wind farm cables. The project relates to the transmission cable connection to the offshore wind farm located approximately 8km off the Lincolnshire coast near Skegness, which has 75 turbines and a total installed capacity of 270MW.
Ofgem has granted TC Lincs OFTO Limited a licence to own and operate the transmission link to the Lincs wind farm.
Transmission Capital Partners, the consortium comprising International Public Partnerships, Amber Infrastructure and Transmission Investment, has achieved financial close for the Lincs offshore transmission project.
INPP has invested approximately £171m , which was funded from the company’s existing cash and debt resources, to acquire 100% of the equity and junior debt of the project, with the senior debt being provided by the European Investment Bank. The European Investment Bank has agreed to provide GBP 168 million
The project links the 270MW Lincs windfarm to the National Grid via 100km of subsea cables and other related infrastructure including substations.
TC Lincs OFTO Limited will be paid by a pre-agreed, availability-based revenue stream over 20 years which is fully linked to UK inflation with no exposure to wind farm performance. The maximum annual payment will be £24m .
4 November 2014 - Financial Close for Lincs OFTO
10/05/2012 - Preferred bidder for Lincs OFTO
|Region:||UK - - South East|
|Current status:||Project Signed - 04/11/2014|
|Public Sector Procuror Details|
|Private Sector Details|
|Consortium name:||Transmission Capital Partners|
|Private sector shareholders:||Transmission Capital Partners - Shareholders
International Public Partnerships (INPP) - Shareholders
Amber Infrastructure - Shareholders
Drapers Gardens - Shareholders
|Private sector debt-providers:||European Investment Bank - Debt Providers (EIB has agreed to provide GBP 168 million)
|Private Sector Shortlist|
|Consortium name:||National Grid Offshore Limited|
|Private sector shareholders:||National Grid Offshore Limited - Shareholders
|Consortium name:||Balfour Beatty Equitix|
|Private sector shareholders:||Balfour Beatty - Shareholders
Equitix - Shareholders
|Consortium name:||Blue Transmission|
|Private sector shareholders:||Macquarie Capital - Shareholders
Barclays Capital Ltd - Shareholders
Mitsubishi UFJ Financial Group - Shareholders
Most Read Stories
A prosperous New Year?
There are some real signs that 2016 could be a vintage year for the partnerships industry, after years of fallow
Kenya has unveiled some bold proposals for new infrastructure investment. PPP Unit head Stanley Kamau tells Amanda Nicholls how they will be implemented