The £80 million Hertfordshire Schools PPP scheme achieved financial close on 14 January 2011.
The project involves the delivery of a capital investment programme in partnership with Hertfordshire County Council for the design, construction and provision of facilities management for two secondary schools and a special educational needs school. Two of the schools will be co-located onto a single site and funded through a PPP route.
Balfour Beatty will invest equity of £4.5 million into the 25-year concession to build and maintain these two schools. They will also be responsible for the design and build of the third school, as well as its maintenance for 10 years. Aviva provided the debt financing for this project.
Operis provided financial model due diligence services as well as tax and accounting review on behalf of the lender and the sponsor.
