Leading Advisors in Project Finance

  • Cramlington CHP Plant Reaches Financial Close

    21 September 2015

    Financial close was reached on September 17, 2015 for a combined heat and power (CHP) plant in Cramlington, Northumberland, UK.

    The 27.7MW CHP plant will generate 213GWh each year, enough to power 52,000 homes, and will operate under a 12 year PPA and O&M contract. The £138 million plant is to be financed by £48 million of equity, provided by John Laing and Green Investment Bank. In addition, £90 million of debt has been provided by Barclays and the Danish export credit agency EKF.

    In support of the transaction, Operis was pleased to provide tax & accounting advice to the project’s sponsors and the project developer, Estover Energy. Operis also undertook a full model audit of the financial model representing the transaction.


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