A consortium led by iCON Infrastructure Partners II, L.P. (iCON II), and including EEA Holdings (EEA) and 2OC (2OC), has entered into agreements to fund and construct an environmentally friendly 19 MW CHP facility that will provide heat and power under long-term contracts to Thames Water Utilities (Thames Water) and National Grid Gas plc (National Grid).
The facility is located in Beckton, East London where it will be integrated with National Grid’s gas pressure reduction station and is in close proximity to Thames Water’s desalination plant and sewage treatment works, all of which are critical infrastructure facilities which serve London.
The facility is expected to commence full operations in the first quarter of 2015, benefitting from several years of development by 2OC and National Grid.
iCON II is iCON Infrastructure’s second fund focused on core infrastructure investments in Europe and North America and owns 77.5% of the facility.
Andrew Mercer, Chief Executive of 2OC, said: “Bringing to fruition this innovative project to provide green energy to major UK utilities is the culmination of both the vision and several years of dedication from the experienced team at 2OC. We are very grateful for the ongoing support of National Grid and look forward to working with our new partners at iCON Infrastructure and EEA to deliver efficient, environmentally friendly heat and power to Thames Water and National Grid.”
Paul Malan, Senior Partner of iCON Infrastructure, said: “iCON Infrastructure is delighted to have become the lead investor in the Beckton facility, which is at the heart of London’s infrastructure and benefits from the long-term support of customers of the highest calibre.”
Simon Shaw, Chairman of EEA, said: “EEA is proud to be an investor in a project that delivers renewable energy to the capital.”
Piers Clark, Commercial Director for Thames Water, said: “Thames Water welcomes the investment by the consortium led by iCON and is pleased to have secured green energy for our facilities in Beckton, East London. Our support of this project further underscores our commitment to delivering our critical services to the community of London in an environmentally responsible manner.”