11 April 2013
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Deutsche Bank AG, London Branch and Deutsche Bank Luxembourg S.A. as sole lead arranger and lender on the project financing of a new 19MW biomass project in Beckton, East London.
The £70m waste oils CHP plant will generate heat to be provided to National Grid Gas, and power to be supplied to Thames Water Utilities Limited for its desalination plant at Beckton. Power not used by Thames Water Utilities Limited will be exported to the national grid.
The facility is being built by a consortium comprising iCON Infrastructure Partners II (GBP), L.P., EEA Holdings Limited and 2OC Limited.
Charles July, lead partner and head of project finance at WFW, said: “This investment is helping to secure part of London’s green energy-based future, and it was a pleasure to provide advice to Deutsche Bank on such a ground-breaking deal.”