Gas to the West, a gas distribution project in Northern Ireland, recently reached financial close.
The scheme aims to increase the accessibility of natural gas for businesses and homes in the west of Northern Ireland.
SGN, one of Mutual Energy’s partners in the project, has agreed to take on some of the construction risk which has meant that Mutual Energy was able to raise capital for the project exclusively though debt. LGIM Real Assets’ infrastructure arm agreed to provide around £200m of financing, to be repaid over around 36 years.
On behalf of LGIM Real Assets and Mutual Energy, Operis was pleased to perform the audit of the financial model, including a review of the model’s tax and accounting treatments.
