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Trowers & Hamlins helps Amey bring Isle of Wight waste collection and treatment PPP project to finan

Trowers & Hamlins helps Amey bring Isle of Wight waste collection and treatment PPP project to financial close

Trowers & Hamlins is delighted to announce that the Isle of Wight integrated waste collection and treatment project achieved financial close on 30 September 2015.  The firm has provided legal advice to long-standing client Amey on the project throughout the company's bid for the £225m, 25-year waste collection and treatment contract with Isle of Wight Council.

The public-private partnership (PPP) project involves the management of all of Isle of Wight Council's municipal waste including collection, treatment and disposal and the operation of household waste recycling centres on the island.  The project includes developing new mechanical treatment and advanced thermal treatment facilities for the benefit of the island.  Once operational, the advanced thermal treatment facility will generate up to 20 GWh of electricity and divert at least 90 per cent of residual waste from landfill.  The new facilities are due to be operational in 2018.

Trowers & Hamlins advised on all aspects of the concession contract with Isle of Wight Council and each of the process and engineering sub-contracts, as well as related property documentation.  The new infrastructure will be funded directly by Isle of Wight Council through milestone payments against achieved progress resulting in significantly improved value for money for the Council over more traditional PPP funding structures.

Asif Ghafoor, Director of Amey Ventures, said:  "We are delighted to complete this ground-breaking project providing the Isle of Wight with an integrated on-island waste collection, management and treatment service.  The project demonstrates Amey's commitment to delivering innovative funding structures which allowed financial close to take place less than three months after preferred bidder.  The contract follows our successful waste deals in Milton Keynes and North Yorkshire, and demonstrates Amey's commitment to the local authority waste market."

James Hawkins, Head of Trowers & Hamlins' Public Sector Commercial department and lead partner on the deal, added:  "We are delighted to have worked with Amey and Isle of Wight to deliver a sustainable and long-term partnership to address the Isle of Wight's unique waste management and treatment requirements, including delivering increased investment and employment opportunities on the island."

In addition to James Hawkins, the cross-departmental team at Trowers & Hamlins advising on the project included Paul Bartter and Tom Holroyd (Construction), Sangita Unadkat and Patrick Morris (Real Estate), Jon Baldwin (Public Sector Commercial), Tim Nye and Alison Chivers (Corporate).

Last year Trowers & Hamlins advised Amey on its successful bid to design, build, fund, and operate a new waste treatment facility for North Yorkshire and City of York Councils.  The innovative PPP deal completed in October 2014 and the facility is due to be operational in 2018.