HICL Infrastructure Company Ld Preferred Bidder Announcement (1249M)
July 26 2017 - 2:25AM
UK Regulatory
TIDMHICL
RNS Number : 1249M
HICL Infrastructure Company Ld
26 July 2017
26 July 2017
HICL Infrastructure Company Limited
Preferred Bidder Announcement
HICL Infrastructure Company Limited ("HICL" or "the Company"),
the listed infrastructure investment company advised by InfraRed
Capital Partners Limited, is pleased to announce that Diamond
Transmission Partners, a consortium comprising the Company and
Diamond Transmission Corporation Limited (a subsidiary of
Mitsubishi Corporation), has been selected by Ofgem as the
preferred bidder to own and operate the offshore transmission link
to the Burbo Bank Extension windfarm ("Burbo Bank OFTO").
Under the offshore transmission owner ("OFTO") regime, the OFTO
takes ownership of an operational transmission asset and receives
contractual, availability-based revenues over a 20-year period. The
OFTO does not have exposure to construction risk, electricity
production or power price risk. HICL has also partnered with
Diamond Transmission Corporation Limited to participate in phase
one of Tender Round 5, which comprises three further bids for OFTO
assets.
The consideration for HICL's 50% share of the interest in Burbo
Bank OFTO is expected to be up to GBP13m. Completion of the
acquisition is expected in early 2018.
-ends-
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Harry Seekings
Keith Pickard
Tony Roper
Tulchan Communications +44 (0) 20 7353 4200
David Allchurch
Latika Shah
Canaccord Genuity Limited +44 (0) 20 7523 8000
David Yovichic
HICL Infrastructure Company Limited
HICL Infrastructure Company Limited ("HICL" or "the Company",
and together with its subsidiaries, "the Group") is a long-term
investor in infrastructure projects which are predominantly in
their operating phase and yielding steady returns. It was the first
infrastructure investment company to be listed on the London Stock
Exchange. With a current portfolio of 116 social and transportation
infrastructure investments in projects with predominantly
availability-based income streams, it is seeking further suitable
investment opportunities which fit its stated Investment
Strategy.
Further details can be found on the HICL website,
www.hicl.com.
Investment Adviser
The Investment Adviser to HICL is InfraRed Capital Partners
Limited ("InfraRed") which has successfully invested in over 200
infrastructure projects since 1997. InfraRed is a leading
international investment manager focused on infrastructure and real
estate. It operates worldwide from offices in London, Hong Kong,
New York, Seoul and Sydney. With over 120 professionals it manages
in excess of USD 9bn of equity capital in multiple private and
listed funds, primarily for institutional investors across the
globe. InfraRed is authorised and regulated by the Financial
Conduct Authority.
The infrastructure investment team at InfraRed consists of 60
investment professionals, all with an infrastructure investment
background and a broad range of relevant skills, including private
equity, structured finance, construction, renewable energy and
facilities management.
InfraRed implements best-in-class practices to underpin asset
management and investment decisions, promotes ethical behaviour and
has established community engagement initiatives to support good
causes in the wider community. InfraRed is a signatory of the
Principles of Responsible Investment.
Further details can be found on InfraRed's website
www.ircp.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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