Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 19 July 2011, the Transmission Capital Partners consortium reached financial close on the Gunfleet Sands offshore transmission project, with its licensee TC Gunfleet Sands OFTO Limited purchasing the offshore and onshore transmission assets for a transfer value of £49.5 million. The acquisition, financed through a mix of INPP-provided equity and subordinated debt alongside senior bank loans, secured long-term ownership and operation of the transmission link for the Gunfleet Sands 1 & 2 wind farms under the UK OFTO regime.