International Public Partnerships (LSE:INPP) has completed the disposal of a 49% minority interest in the Moray East Offshore Transmission Owner (OFTO) project to Daiwa Energy & Infrastructure, generating proceeds of approximately £42 million. The transaction was agreed at a premium to the asset’s most recent valuation, while INPP retains a 51% controlling stake and majority board representation.
The sale forms part of the company’s ongoing capital recycling programme, under which around £387 million has been realised since mid-2023. Proceeds are primarily intended to fund INPP’s investment commitment to the Sizewell C nuclear project and to support its active share buyback initiative, reflecting a continued focus on disciplined capital allocation and balance sheet management as the company supports long-term energy transition infrastructure.
INPP’s outlook is underpinned by strong cash generation and a resilient balance sheet, although these positives are partly offset by a weaker income statement performance in 2024 and valuation metrics affected by a very high price-to-earnings ratio. Technical indicators remain modestly supportive, and recent corporate actions — including buybacks and strategic portfolio adjustments — provide some additional positive momentum.
More about International Public Partnerships
International Public Partnerships is a listed infrastructure investment company specialising in global public infrastructure assets that deliver social and environmental benefits. The group manages a diversified portfolio of more than 130 investments across sectors including utilities and energy transmission, transport, education, healthcare, justice and digital infrastructure, spanning the UK, Europe, Australia, New Zealand and North America, with a focus on long-term income generation and capital growth.
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