Bevan Brittan advises Viridor on £2 Billion Project for the Tees Valley Energy Recovery Facility

We advised Viridor, a leading UK resource recovery company on the Tees Valley Energy Recovery Facility (TVERF) project, which includes contracts with a value of £2 billion over 29 years.

TVERF is a public-private partnership (PPP) infrastructure project between Viridor and Tees Valley Energy Recovery Limited, which will allow seven councils (Darlington, Durham, Hartlepool, Middlesbrough, Newcastle, Redcar & Cleveland and Stockton) to have their residual waste, the waste left over after recycling from across the region, treated at a state-of-the-art two-line Energy Recovery Facility (ERF).

TVERF is expected to be operational in 2030 and will be capable of processing around 450,000 tonnes of residual waste per year. It will generate up to 49.9 MW of baseload electricity for the local electricity grid each year – enough to power the equivalent of 60,000 homes. The TVERF is being built on disused industrial land at Teesworks in Redcar, supporting the regeneration of the area, while also creating new local employment opportunities.

Nadeem Arshad, Partner and Head of Energy and Resource Management, Bevan Brittan said:

“We are delighted to have advised Viridor on this market leading Waste PPP and ERF project. We have advised Viridor for over 5 years on the deal - since the start of the procurement phase and through to financial close. It will be amazing to see the project come to fruition. Many congratulations to the Viridor team.”

Richard Belfield, Group Business Development Director, Viridor said:

“I would like to personally thank you all at Bevan Brittan, for your unwavering support, advice and commitment to help us get over the line on this project. And in particular your spirit, good nature and the humour all of you shared with us.”

Bevan Brittan fielded a multidisciplinary team of sector specialists covering PPP/Project Finance, EPC/Construction, Property, Employment and Pensions matters, including:

·       PPP / Project Finance – Nadeem Arshad, Henry Mayman, Mo Olajide, Abdul Raheem;

·       EPC / Construction - Nathan Bradberry, Tim Kittow, Joseph Halawin; and

·       Property - Harriet Murray Jones, Simon Boyes.