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Transforming London’s Management of Waste – Securing Finance

Transforming London’s Management of Waste – Securing Finance. Nigel Aitchison Partner . What are we looking to deliver?. Balance of risk and reward. Long term. Short term. Transforming London’s Management of Waste. Feedstock and Off take arrangements Fully contracted or merchant

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Transforming London’s Management of Waste – Securing Finance

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  1. Transforming London’s Management of Waste – Securing Finance • Nigel Aitchison • Partner

  2. What are we looking to deliver? 2

  3. Balance of risk and reward 3

  4. Long term 4

  5. Short term 5

  6. Transforming London’s Management of Waste • Feedstock and Off take arrangements Fully contracted or merchant • Sub-sectors – diversified waste elements • Counterparties – Large waste management operators to new management teams • Delivery mechanisms – Fully wrapped EPC or separate contracts • Operational counterparties – Operating sub-contracts to in-house solutions • Investment vehicles – Top Co, Hold Co, SPVs Aim to invest in a diversified portfolio of investments across a broad risk profile 6

  7. Securing Finance • UK Government established the Green Investment Bank (GIB) with £3 billion initial capital for three years from April 2012 • GIB has committed £750m to three sectors in year one, starting April 2012 • Waste • Offshore Wind • Energy Efficiency • Foresight has been awarded the mandate, ahead of 40 applicants, to manage the first £50 million of GIB funds into waste (£50 million of £80 million) • In 2011, Foresight was awarded management of a £35 million publicly funded commitment from London Green Fund (funded in part by European Regional Development Fund (ERDF) and London Waste and Recycling Board (LWaRB) to invest in waste infrastructure in Greater London via the Foresight Environmental Fund (FEF) • Foresight has matched with funds from leading Municipal Pension Funds and Family Offices to create a total fund size of £60m. Fund available for co-investment alongside GIB and private funds • Triple bottom line - Economic, Social and Environmental The backing of significant Government funds 7

  8. Important Information This document has been issued and approved by Foresight Group LLP, which is authorised and regulated by the Financial Services Authority. This document is intended for discussion purposes only and does not create any legally binding obligations on the part of Foresight Group LLP. Without limitation, this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. When making an investment decision, you should rely solely on the final documentation relating to the transaction and not the summary contained herein. The transactions and product mentioned herein may not be appropriate for all investors and before entering into any transaction you should take steps to ensure that you fully understand the transaction and have made an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction. We recommend that you seek advice from your own tax and legal advisors in making this assessment. The information contained in this document is based on material we believe to be reliable. However, we do not represent that it is accurate, current, complete or error free. Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number or assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results. The distribution of this document and availability of this product in certain jurisdictions may be restricted by law. You may not distribute this document, in whole or in part, without our express written permission. Managed by Foresight Group which is authorised and regulated by the Financial Conduct Authority 8

  9. ECA Court, South Park, Sevenoaks, Kent , TN13 1DUwww.ForesightGroup.euinfo@foresightgroup.euTel: 01732 471800 Fax: 01732 471810 Issued by Foresight Group LLP, ECA Court, South Park, Sevenoaks, Kent, TN13 1DU. Authorised and regulated by the Financial Conduct Authority:

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