Simpson Thacher represented Viridor, a leading U.K. recycling, renewable energy and waste management company controlled by funds advised by KKR, in connection with financial close on the Tees Valley Energy Recovery Facility (TVERF).
The signing of contracts, with a value of £2 billion over 29 years, marks a key milestone towards delivering a safe, reliable and sustainable long-term solution for treating residual waste in the North-East.
TVERF is a public-private partnership (PPP) infrastructure project, which will allow seven partner councils (Darlington, Durham, Hartlepool, Middlesbrough, Newcastle, Redcar & Cleveland and Stockton) to have full control over the management of residual waste - the waste left over after recycling from across the region. The partnership will ensure this waste is safely treated into the future, alongside efforts to reduce, reuse and recycle as much material as possible.
The Simpson Thacher team included Claire Williams, Eleanor Milne, Lauren Bugler and Catrin Howells (Energy and Infrastructure).