Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 27 July 2021, the Transmission Capital Partners consortium (comprising International Public Partnerships, Amber Infrastructure Group and Transmission Investment) reached financial close for the long-term ownership and operation of the Beatrice offshore transmission link. The transaction financed the acquisition of the Beatrice OFTO assets, including the offshore transformer modules, export cables and onshore substation at Blackhillock, at an asset transfer value of GBP 437.9 million, with INPP investing about GBP 50 million in equity and subordinated debt in TC Beatrice OFTO Ltd and the remainder provided as long-term senior debt, underpinning a 23‑year, index‑linked, availability-based regulated revenue stream.