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North Wales Waste PPP

c£180m financing

15th December 2016

DWPF provided financial advice to Wheelabrator, the US waste operator, on its 25 year PPP contract with a partnership of five councils in North Wales. The project reached financial close on the 15th December 2016.

 

Approximately £180m of debt was arranged to finance the 200,000 tonne Parc Adfer facility, located on the Deeside Industrial Park in Flintshire, North Wales. Construction is due to commence in January 2017, with the facility expected to commence full operations in 2019.

 

Waste will be provided by the partnering authorities, enabling them to meet their long-term targets for the recycling and diversion of waste from landfill. A significant volume of merchant waste will also be procured, on both a spot and contracted basis.

 

The new facility is expected to generate 16.6MW (net) of sustainable electricity, which is enough to power over 30,000 homes and businesses.

 

Senior debt was provided by BTMU, Natixis, Siemens and the UK Green Investment Bank. An equity bridge was provided by Barclays.

 

DWPF’s provided financial advice and modelling services through the entirety of the procurement process all the way through to financial close.