Linklaters has advised National Westminster Bank plc, ABN AMRO Bank N.V., AIB Group (UK) plc, MUFG Bank Ltd and Siemens Bank GmbH on the financing of the Protos Energy Recovery Facility in Cheshire, England. The state-of-the-art facility will be a significant addition to the UK’s waste management infrastructure, providing thermal treatment for 400,000 tonnes of non-recyclable waste per year and will also generate up to 49 MW of low carbon electricity.
Richard Coar, a Partner at Linklaters LLP says:
“In the midst of the challenging conditions resulting from the pandemic, we are incredibly proud to have supported our clients and sponsors in financing the Protos Energy Recovery Facility, which will go on to play an important role in the UK government’s drive for a clean energy future by reducing reliance on landfill whilst also contributing to the UK’s security of supply.”
Richard Ginks, a Partner at Linklaters LLP adds:
“This project again illustrates our significant experience in the energy from waste sector, having advised on a number of prominent projects over the last couple of years, including Newhurst, Earls Gate, Ferrybridge and Cory Riverside. We look forward to helping to bring a number of other Energy-from-Waste projects to a successful over the next year.”
The facility is a joint venture between Covanta Holding Corporation (Covanta), Macquarie’s Green Investment Group (GIG) and Biffa plc (Biffa). Biffa will be the primary waste supplier for the facility, providing around 60% of the fuel, drawing from its existing local waste collection services. An un-incorporated joint venture between Mytilineos and Standardkessel Baumgarte will be leading on the construction of the facility.
The Linklaters team was led by partners Richard Ginks (Partner) and Richard Coar (Partner) and supported by Albert Yu (Managing Associate), Bakul Shah (Managing Associate), Isabella Peplinski (Associate), Gavin Jackson (Associate), Murad Bilalov (Associate), Rory Bennett (Associate) and Aya Kawawa-Beaudan (Associate).
