International Public Partnerships Ltd on Friday said that a consortium of which it is a member reached a financial close for the long-term ownership and ongoing operation of the East Anglia One Offshore Transmission assets.

The London-based infrastructure and business investment firm said the consortium consists of itself, Amber Infrastructure Group, and Transmission Investment.

INPP said it will buy all of TC East Anglia OFTO Ltd for £107 million. Further, INPP is a preferred bidder on Moray East OFTO, with an expected investment of around £100 million.

Regarding electricity production, INPP said: ‘The company takes no exposure to electricity production or price risk but is paid a pre-agreed, availability-based revenue stream over 21.5 years which is linked to UK inflation, as measured by the [UK] retail price index.’

International Public Partnerships shares were 0.7% lower at 148.30 pence each on Friday morning in London.

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