Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 13 November 2018, TC Dudgeon OFTO plc reached financial close on the long‑term ownership and 20‑year operation of the Dudgeon offshore transmission link. The acquisition of the transmission assets, with an assessed transfer value of about £298 million, was financed through a combination of equity, a £273 million 3.158% public bond issue, and £46 million of subordinated shareholder debt from International Public Partnerships Limited (INPP), enabling the special purpose company to take ownership of the assets and commence the revenue term under the OFTO regime.