Oxford, UK, 27-02-2015 — /EuropaWire/ — Leading UK public and regulated services provider, Amey, has scooped the prestigious accolade of European Waste Project of the Year at the 2014 IJ Global Europe & Africa Awards.
The award recognised Amey’s long term waste treatment project in partnership with North Yorkshire County Council and City of York Council. Over the lifetime of the project will divert more than seven million tonnes of waste from landfill, create 400 construction roles and 70 permanent jobs as well as generating enough electricity to power 40,000 households.
As one of the biggest projects of its kind in Europe, this project has one of the largest financing requirements seen by a UK waste project and the award recognised the unique funding structure which brought about the successful financial close in October 2014.
Through pioneering financing structures and constant testing of the market, this project is one of very few waste treatment deals to secure long term funding and showcases the contractual and financial strengths of the project.
The total project outlay of over £300m has been provided by a large banking group including traditional commercial banks, European Investment Bank (EIB) and the Green Investment Bank (GIB) along with four equity parties.
Asif Ghafoor, Managing Director and Group Treasurer at Amey said:
“We are honoured to be recognised with this award; it is a fantastic achievement for both Amey and our partners. The award is a testament to our team’s hard work, innovative thinking and excellent working relationships that will ultimately deliver excellent value for money and tangible environmental results.”
The IJGlobal Europe & Africa Awards celebrate the best in class deals within the energy and infrastructure industry over the past year.
Sarah Tame, Editor for IJGlobal said:
“This deal was recognised as an outstanding achievement not least as it was one of the few deals to close in the European waste sector in 2014. It is also the first waste recovery project in the UK to feature both the European Investment Bank and the UK Green Investment Bank. IJGlobal would like to congratulate the winners on bringing this deal to close in difficult market conditions.”