Linklaters advises Cory on Riverside 2 Energy-from-Waste Facility

Linklaters has advised Cory in relation to the financing and development of the Riverside 2 energy-from-waste (EfW) facility which will be located adjacent to Cory’s existing EfW facility, Riverside 1, in Belvedere, South London.

Riverside 2 will be one of the UK’s largest EfW facilities and will divert around 650,000 tonnes of non-recyclable waste a year from landfill and play a key role in addressing the current shortfall in waste processing capacity in London and the South East. The facility will generate enough low-carbon electricity to power up to 140,000 homes whilst maintaining the lowest Nitrogen Oxide (NOx) levels of any UK EfW facility. It will be complemented by Cory’s wider decarbonisation strategy which includes both carbon capture and storage and green hydrogen generation.

Richard Coar, partner at Linklaters, comments: 

“We’re delighted to have been able to continue to work with Cory to reach financial close on this important project for both London and the South East. The project has not been without its challenges and being able to close a deal of this complexity in the current market conditions is a testament to all the parties involved, who have worked together to achieve this milestone.”

Riverside 2 represents the latest of a long line of EfW transactions on which Linklaters has advised both in the UK and internationally. 

The Linklaters team advising on the deal was led by Energy & Infrastructure partner Richard Coar who worked closely alongside Managing Associates Nick Szmigin, Madeline Armitage and Tim Broune, together with Real Estate partner Siobhan Burton, managing associate Kate Pearson and Corporate managing associate Emma Simpson.

The wider team also consisted of associates Josanne Harper, Ed Jackson, Clarissa Wei, legal advisor Yasmin Howes and trainee Milan Banjac-Reid (all Energy & Infrastructure), managing associate Hannah Day and associate Kevin Tan (both Real Estate), associate Laura Wiselka (Corporate), counsel Rhian Roberts and associate Samuel Monteith (both Capital Markets) and managing associate Catherine Sam and associate Thomas Parish (both Tax).