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Consortium acts as financial adviser to Ofgem on transfer of offshore wind farm transmission link

Posted on by George Roffey

Smith Square Partners Consortium acts as financial adviser to Ofgem on the £666 million completed transfer of Moray EAst offshore wind farm transmission link from MOWEL, a joint venture company owned by Ocean Winds (40%), Diamond Green Limited (33.4%), Equitix (16.6%) and China Three Gorges (10%) to Transmission Capital Partners (“TCP”)

Smith Square Partners Consortium acts as financial adviser to Ofgem on the £666 million completed transfer of Moray East offshore wind farm transmission link from MOWEL, a joint venture company owned by Ocean Winds (40%), Diamond Green Limited (33.4%), Equitix (16.6%) and China Three Gorges (10%) to Transmission Capital Partners (“TCP”) On 14 February, 2024 Ofgem announced its confirmation to grant an Offshore transmission licence to TCP. This sees the transfer of the £666 million offshore transmission link from MOWEL, the developer of the Triton Knoll offshore wind farm who are managed by Ocean Winds, TCP, an International Public Partnerships (“INPP”) backed consortium. The Moray East wind farm consists of 100 turbines, has a capacity of 950MW and is located 22km from the Aberdeenshire, Scotland coast in the Moray Firth. The Smith Square Partners Consortium has been advising Ofgem in relation to sales of offshore wind farm transmission assets since 2020 when it was first appointed by Ofgem for Tender Round 7 and continues to advise on tender rounds up to and including Tender Round 11. Its advice has related to transmission assets for eight offshore wind farms with a projected generation capacity of 7.9 GW and combined asset values of c.£6.1 billion. The Consortium comprises financial advisers Smith Square Partners and Centrus, with CEPA providing financial and related economic advice, tax advice provided by BDO and forensic cost reviews provided by Grant Thornton.

“Offshore windfarms have a crucial role in achieving a net zero carbon economy and are at the forefront of the UK Government’s targets with a target of 50GW of offshore wind by 2030. OFTO transactions will play a key part in this success with a very large pipeline of projects coming to market in the next couple of years. We are pleased to close this transaction with our consortium colleagues and this transaction emphasises our continued focus on the global renewable energy and energy transition markets.”

Scott Wilsher, Assistant Director – Centrus

Centrus hosts the titanTreasury User Day 2023

Posted on by Georgie Knight

titanTreasury User Day 2023

On the 25th October 2023, we welcomed our clients to the UK titanTreasury User Day 2023. The day provided a fantastic opportunity to bring titanTreasury users together to learn about new platform functionalities and input ideas for future developments. 


Gilles Bonlong, Melina Lambrou and George Roffey were joined by our partners at 3V Finance, Alexis Paulet and Alexandre Marage, to lead workshops throughout the day. 

titanTreasury is our expert Treasury Management System (TMS) that offers financial departments and treasurers the best functionalities for monitoring and controlling operational market risk (rate, foreign exchange, commodities), credit and liquidity risks. 

To learn more about titanTreasury, please contact Gilles Bonlong, Director at Centrus.

Centrus named ‘market leader’ by Social Housing Magazine

Posted on by Georgie Knight

Market leader in capital market transactions

Centrus has been named market leader in capital market transactions by Social Housing‘s exclusive professionals’ league, having advised on the highest number of HA fundraising transactions in 2023. 

The report found that private placements remain the preferred funding route within the capital markets despite the number of housing association bond deals having fallen. 

John Tattersall, Managing Director at Centrus, shared his thoughts on the report findings alongside comments from Pension Insurance Corporation plc, Addleshaw Goddard, ARA Venn, MORhomes PLC and Savills.


Click here to read the full report

Join titanTreasury at The HAT Summit 2023

Posted on by Georgie Knight

titanTreasury at The HAT Summit 2023

On Friday 8th September 2023, Centrus will be participating in the 3rd Annual International Treasury Summit, organized by the HAT association, in Athens.

Centrus will be joined by our partners at 3V Finance to share expertise and the benefits of titanTreasury, now used by more than 800 treasury professionals internationally.

If you’d like to connect during the event, please visit our stand or contact Gilles Bonlong.


Round table: ‘Battle of the Titans’- Global Cash Forecasting

Join Centrus Director, Gilles Bonlong at the ‘Battle of the Titans’ roundtable for a discussion on Global Cash Forecasting at 2 pm.


The 3rd International Treasury Summit HAT

Date: September 8, 2023, from 8:30 a.m. to 7 p.m.

Location: Benaki Museum, Pireos 138, Athina 118 54, Greece

Registration: https://www.treasury.gr/3rd-hat-international-treasury-summit

Centrus Impact Report 2022

Posted on by Georgie Knight

Executive Summary

The impact that we have on people and the planet sits in the same row as our financial performance. This commitment is embedded within our legal articles at Companies House, confirming obligations beyond our duties to our shareholders and acting as a public commitment to our values as a company.

As global sustainability thresholds are threatened, every industry has a part to play in adding circular credibility to the economy and using their platform for positive contribution. At Centrus, our sectors of operation have tangible impact on the environment and on society. As a service provider, our action and output on our value chain is far greater than our supply chain inputs and in this service provision, people are our most valued asset.

So that our people know how their role contributes to ESG, we strive to set an exemplary internal footprint.

This impact report shares some of our work and progress to drive Finance with Purpose and the inclusion and awareness help stimulate external advocacy of sustainable business with our clients.

Download our impact report.

CENTRUS_Impactreport_2022Download

For more information, please contact George Roffey, Chief Sustainability Officer – Centrus

Centrus partners with Community Housing Cymru

Posted on by Georgie Knight

Centrus joins Community Housing Cymru

Centrus has formed a new commercial partnership with Community Housing Cymru (CHC), the voice of housing associations in Wales.

CHC represent and support 36 housing associations in Wales, with members providing almost 165,000 homes to 10% of the Welsh population.

Why did Centrus want to be a CHC commercial partner member, and join up with the Welsh housing association sector?

“Following a long-standing relationship with Community Housing Cymru (CHC), Centrus is delighted to join as a commercial partner. As the leading treasury and corporate finance advisor to the affordable housing sector in Wales, we are proud to join the CHC community and importantly see our membership as a further way of supporting our housing association clients by playing our part in enabling CHC to represent them and the sector overall.”

What benefits can Centrus bring to our housing association members and the work that they do?

“We provide independent treasury and corporate finance advice to housing associations focused on enabling our clients to deliver against their objectives, proactively managing associated risks, and demonstrably maximising value for money.

“Our highly specialist affordable housing team has over 200 years combined experience spanning banking, derivatives, debt capital markets, equity, and financing strategies. We also provide treasury reporting and sophisticated technology solutions from Centrus Analytics to a full spectrum of housing associations.

“Centrus is a financial services group committed to sustainability, real assets and essential services – we believe in finance with purpose. Centrus is committed to exemplifying high standards of verified social, governance and environmental performance, as exemplified by our Certified B Corporation status.”

What services do you offer?

  • Corporate finance advisory (debt and equity, mergers, capital raising, hedging and risk management).
  • Retained treasury advisory (proactive engagement and support, regular market data, treasury management policy and strategy, business plan assurance, credit rating analysis, hedging structuring & execution, stakeholder management).
  • Centrus analytics (treasury reporting and sophisticated technology solutions).

Interview with Paul Stevens originally published on CHC website.

Centrus hires Rothschild Investment Banker

Posted on by Georgie Knight

Centrus has appointed a new Assistant Director, Damianos Boulakis, who joins from Rothschild & Co’s investment banking team.

With prior 9+ years’ experience at Rothschild, Rubicon Capital Advisors, KPMG and PwC, Damianos has advised institutional and private investors on a number of equity and debt related transactions across real assets space with an emphasis on social infrastructure, energy transition, digital infrastructure and regulated utilities. 

Damianos joins the Real Estate team as Centrus continues to grow its corporate finance advisory offering across operating real estate enterprises, affordable housing and social infrastructure and with a focus on mergers and acquisitions, joint ventures and equity & debt capital raising services. 

“We are delighted to have Damianos come on board. He is a talented and highly skilled professional with significant M&A, equity & debt capital raising experience. We are well positioned to deliver high quality, independent advice to our clients building exceptional real estate enterprises.”     

Omer Fazal, Head of Real Estate – Centrus

“I am pleased to join Centrus’s talented team and I look forward to contribute to the team’s continued success.”

Damianos Boulakis, Assistant Director – Centrus

Centrus confirmed as keynote speaker at UK Renewables Academy

Posted on by Georgie Knight

Keynote speaker at ‘Introduction to Offshore Wind’

We are pleased to announce that Centrus will be the keynote speaker covering offshore wind financing and investment for the UK Renewables Academy’s four day offshore wind programme in September 2023.

“Understanding the principals about how windfarms are financed, bought and sold is critical to understanding the life cycle of a windfarm. This topic is gaining increasing importance as farms get bigger and more expensive. Securing an adviser of Centrus’ quality and experience in this area is an exciting development for the UK Renewables Academy.

Centrus’ insight will no doubt make for an extremely interesting seminar and we look forward to welcoming Centrus to Teesside University in September.”

Liam McIvor, Director – UK Renewables

“We are delighted to be involved in a programme focused on increasing knowledge and understanding around the renewables and offshore sector.

Our work with Ofgem, advising on £5 billion of recent and ongoing Offshore Transmission Operator (“OFTO”) sale processes, has given us a unique insight into how the UK can achieve its targets of 50GW of offshore wind by 2030.

As a certified B Corporation, Centrus is passionate about delivering solutions for a sustainable future, securing energy resilience and funding the energy transition to net zero”.

Adam MacDonald, Managing Director – Centrus

The course has been specifically designed and developed alongside leading industry professionals to give participants an understanding to every area of the sector. The course is also applicable to those who are experienced in one particular area and want to have a better understanding of the wider industry.

For more information on the course, click here.