Aviva Investors invests in Westermost Rough offshore wind transmission owner project

Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has reached financial close on the £183m Westermost Rough offshore wind transmission owner (OFTO) project.

The OFTO will connect  the Westermost Rough offshore wind farm, located five miles north east of Withernsea, off the Holderness coast in the North Sea, to the onshore grid network. 

Project sponsors include Transmission Capital Partners, which comprises International Public Partnerships, Amber Infrastructure and Transmission Investment.  Transmission Capital Partners was appointed by Ofgem as the preferred bidder for Westermost Rough in May 2015. Under the 20 year contract, they will operate the transmission assets that connect the 205MW onshore wind farm, which is owned by Dong Energy, Marubeni and the GIB, to the grid.

Aviva Investors provided half of the £155m debt facility on an-index linked basis to support the acquisition of the transmission asset.

Susannah Stock, Infrastructure Director at Aviva Investors, said:

“This transaction provides further diversification to the range of sectors we have invested in through our UK platform, including utilities, energy, social infrastructure and transport. We are delighted to have supported this key infrastructure acquisition by providing an index-linked long-term funding solution.”

Notes to Editors

The information and opinions contained in this document are for use by the financial press and media only, and do not purport to be full or complete. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice.

The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested.  

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. 

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 4 January 2015.

Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £267 billion as at 30 September 2015.

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Victoria Howley

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