International Public Partnerships (LON:INPP) is asking shareholders for an additional £75mln to fund its share of the electrical cable link to the Dudgeon Offshore wind farm.
The tap issue price is 152.5p, a premium to NAV said the infrastructure investor and a small discount to last night’s close of 154.6p.
International PPL's £47mln share of the Dudgeon project will push debt up to £72mln.
A further £200mln will be required during 2019 to meet its final investments in the Cadent gas distribution business together and other planned spending.