Transmission Capital

Ormonde Offshore Transmission Project Reaches Financial Close

Transmission Capital Partners has achieved financial close on the £103.9m Ormonde offshore transmission project. This is our fourth project under Britain's offshore transmission ("OFTO") system following Transmission Capital Partners Robin Rigg, Gunfleet Sands and Barrow projects that achieved financial close in 2011. International Public Partnerships, the FTSE 250 listed infrastructure investment company, invested 100% of the capital required for the investment.

Ormonde is the fifth Offshore Transmission Owner (OFTO) Licence to be awarded under Great Britain's competitive tender process for the licensing of the high voltage transmission links to offshore wind farms. Transmission Capital Partners also runs three of the four other OFTOs to have received licences to date: Robin Rigg, Gunfleet Sands and Barrow.

The project provides the electrical connection for the Ormonde offshore wind farm, a 150MW facility located 10km from Walney island near Barrow-in-Furness. The transmission assets comprise the onshore and offshore substations and the under-sea cable connecting the offshore wind farm with the onshore grid network. The OFTO Licence will be held by a newly created company, TC Ormonde OFTO Limited, which has acquired the £103.9 million link from Vattenfall, the owner of the wind farm.

[ Ofgem Press Release]


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