18 October – LAWFUEL – The Law News Network – Allen & Overy said today that it’s work on the GBP180 million Lakeside Energy from Waste Project, on which it advised Bank of Ireland, highlights one of a number of projects it is working on with clients to help meet the requirements of the EU Landfill Directive.
“Lakeside is one of a number of projects we are involved in which will provide badly needed waste management facilities to divert waste from landfill and enable the government to meet the requirements of the EU Landfill Directive. It also demonstrates that there is a place for innovative project structures to complement the many projects currently being procured under the Private Finance Initiative,” said Andrew Castle, Partner in Allen & Overy’s Project Finance Practice.
Lakeside Energy from Waste Ltd is a joint venture between Grundon Waste Management and Viridor Waste Management for the development of the energy to waste facility at Colnbrook near Slough. The complementary skills and experience of the two companies provide a unique opportunity to deliver a strategically located facility, in line with EU and UK legislation and targets.
Bank of Ireland underwrote the entire project in its role as lead arranger, demonstrating its leading position in providing project finance for the waste management sector.
The Allen & Overy team advising Bank of Ireland was led by Partner Andrew Castle, assisted by Lorraine Ball and Claire Poli. Partner Adam Cleal, assisted by Victoria Tetis, advised on real estate issues and Matt Townsend advised on environmental issues.