IFLR1000

Thames Tideway Tunnel

13/5/2016
Project development, Project finance
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£ 4.2 billion

$ 6.1 billion

Announced

13/5/2016

Overview:

  • The Thames Tideway Tunnel is an overflow sewer system being built in London to cope with sewage over-spill in the river's tidal section. The tunnel will be 25km long.
  • The project is being developed by Tideway, a project company owned by the Bazalgette Consortium who won the tender for the project in July 2015.
  • The consortium itself is made up of investors Allianz Capital Partners, Amber Infrastructure, Dalmore Capital and DIF.
  • The project is financed in part through a £700 million loan taken out from the European Investment Bank (EIB) in May 2016.

Sam Duke - Editor

Jurisdiction:

United Kingdom

Deal types:

Project development
Project finance

Practice areas:

Project finance
Project development

Governing law:

England and Wales

Industry sectors:

Government and public policy
Utilities

Firms:
Ashurst

Party: UK Department for Environment Food and Rural Affairs (Grantor)

Lawyer: Philip Vernon

Herbert Smith Freehills

Party: Tideway (Borrower, Project developer)

Party: Allianz Capital Partners (Project developer)

Party: Amber Infrastructure (Project developer)

Party: Dalmore Capital (Project developer)

Party: DIF (Project developer)

Lawyers: Gavin Williams, Jake Jackaman, Julian Pollock, Patrick Mitchell (retired)

Hogan Lovells

Party: European Investment Bank - EIB (Lender)

Lawyers: Alex Harrison, Andrew Gallagher

Linklaters

Party: Thames Water (Project developer)

Lawyer: Charlotte Morgan

Norton Rose Fulbright

Party: Ofwat (Regulator)

Lawyer: Peter Hall (moved in-house)

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