The Gloucestershire Waste project today successfully reached second financial close.
The project involves the treatment of approximately 100,000 tonnes per year of waste for Gloucestershire County Council under a 25 year concession agreement. The project originally reached financial close in 2012 but planning delays have delayed the project until 2016. Construction is now expected to complete in July 2019.
The project is being funded by a consortium of three banks including Bayerische Landesbank, Nord LB and SMBC.
On behalf of the project’s senior lenders and consortium, comprising Balfour Beatty and Urbaser, Operis was pleased provide an audit of the financial model representing the transaction which included a review of the model’s tax and accounting treatments.
