West London Waste signs

West London Waste Authority has reached financial close on its £840m waste PPP scheme.

The authority has signed the deal with waste specialist Sita, alongside Itochu and Scottish Widows Investment Partners.

Debt for the scheme is being provided by the Green Investment Bank (£20m), plus the following four commercial banks: BTMU, Credit Agricole, Mizuho and SMBC.

Under the deal, the consortium will design, build, finance and operate a new plant to cover waste from the boroughs of Brent, Ealing, Harrow, Hillingdon, Hounslow and Richmond-upon-Thames.

The plans will see the creation of the Severnside Energy Recovery Centre in South Gloucestershire, and the 25-year contract covers the transportation of waste from the west London region to the site.

For more information on the deal, click here.