Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 7 November 2018, the Transmission Capital Partners consortium (International Public Partnerships, Amber Infrastructure Group and Transmission Investment) reached financial close for the long-term ownership and operation of the Dudgeon OFTO transmission link. The transaction involved International Public Partnerships committing approximately £46 million for 100% of the equity and subordinated debt in TC Dudgeon OFTO plc, with around 85% of the offshore transmission asset acquisition cost to be funded via a public bond issuance, enabling the purchase of the completed export cable and substation assets from the Dudgeon wind farm developers under Ofgem’s Tender Round 5 regime.