Leading Advisors in Project Finance

  • Speyside Biomass Plant Reaches Financial Close

    5 September 2014

    The Speyside Biomass Combined Heat and Power (CHP) Plant, located in Moray, Scotland, reached financial close on August 21, 2014.

    The plant will provide up to 87.4GWh of low carbon electricity to the national grid and heat to the Macallan distillery, one of Scotland’s most successful whisky distilleries. Construction of the plant is expected to take approximately two years, with completion occurring in the middle of 2016.

    The £74 million project will be financed by a £26 million equity investment from John Laing and the Green Investment Bank (GIB), alongside a £48 million bond, guaranteed by Infrastructure UK, part of HM Treasury.

    To support John Laing and the GIB’s investment, Operis undertook a full audit of the financial model including a review of tax and accounting.


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