Centrus achieves B Corp Certification

We are incredibly proud to announce that Centrus has become a Certified B Corporation or B Corp. 

Certified B Corporations are companies verified to meet high standards of social, governance and environmental performance with credible and transparent evidence to prove it.  Centrus has also made a legal commitment to ensure that social or environmental performance is a part of its decision-making, regardless of company ownership.  B Corps demonstrate accountability and transparency by disclosing this record of performance in a public B Corp profile. 

Finance with Purpose

Centrus scored 115.7 points in the B Corp impact assessment process. This score is 35.7 points over the accreditation pass mark and sets a benchmark for Financial Services.

By certifying, Centrus has set a framework for continuous improvement. In order to maintain certification, companies must undertake the assessment and verification process every three years, demonstrating they are still meeting B Lab’s standards. In addition, Centrus want to use its certification to aid and encourage clients and peers on their own sustainable business journeys. 

Click here to view our full impact assessment score. 

“As a B Corp in the Financial Services industry, we’re proud to be counted among businesses leading the global movement for an inclusive, equitable and regenerative economy. 

For us, B Corp certification has been a 3-year journey packed with learning and sharing.  We are incredibly proud to be certified and this certification shows that we are using our business as a force for good”

George Roffey, Chief Sustainability Officer – Centrus

We have embedded sustainability in every operational component of our work and shout about it across our value chain. Our services help the financial viability of other purpose-driven enterprises and our sectors of operation have a tangible impact on the environment and on society. 

At our recent company away day, Centrus employees signed a copy of ‘The B Corp Declaration of Independence’, acknowledging our commitment to key principles and beliefs of the community of B Corps around the world.

For more information on the Centrus sustainability commitment, or on the B Corp Certification, please contact George Roffey, Chief Sustainability and People Officer at Centrus.

Webinar: Ofgem launch tender process for OFTO assets worth up to £2 billion

Centrus is pleased to announce that our Consortium is advising Ofgem on the sale of transmission assets related to offshore wind farms under the Tender Round 10 process, with a combined capital value of up to £2 billion. 

The tender process for the Offshore Transmission Owner (OFTO) assets associated with:

  • Neart na Gaoithe Offshore Wind Farm
  • Dogger Bank A Offshore Wind Farm
  • Moray West Offshore Windfarm 

Launch Webinar: Thursday 26 January 2023 10:00 – 12:00

For those interested in this investment opportunity, please CLICK HERE TO REGISTER

Speakers from Ofgem and the wind farm project developers, will describe the OFTO investment opportunity and introduce the three assets being brought to market in TR10. Following the presentations, you will have the opportunity to pose questions to our expert panel.

The registration form invites you to submit questions in advance. Please use that chance to ask any questions you may have before the event.

For more information, please contact Adam MacDonald, Managing Director – Centrus

Corelink team attend West Midlands Train Launch

Jacqui Nelson and Ed Spracklen from Centrus were delighted to attend the launch event, on 14 October, of the Class 196 multiple unit fleet built by CAF and financed by Centrus’s client, Corelink Rail Infrastructure Limited. Corelink is leasing this fleet to West Midlands Train. The train will enter passenger service shortly.

Corelink was established in 2017 to own and lease the Class 196 fleet and two fleets of Alstom Class 730 Aventra multiple units.  The total acquisition price of the rolling stock was c£680 million. The Aventra fleets are under construction and delivery of Aventra units to Corelink has commenced.

The Centrus team structured and closed the financing in December 2017 and Centrus has continued to act for Corelink in managing the construction phase and commencement of leasing.

Centrus host titantreasury User Day 2022

On the 27th of September 2022, we welcomed a host of clients to our UK titantreasury User Day. Gilles Bonlong and Terena Williams from Centrus were joined by Alexis Paulet and Alexander Marage from 3V Finance to present the latest developments on the titantreasury platform, which will further enhance our client’s treasury processes and operations.

The day provided a fantastic opportunity to bring titantreasury users together, including discussions around cash management, interest rate risk and an ESG/Sustainability workshop led by George Roffey, Chief Sustainability Officer at Cenrtus.

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 – Centrus

David Craig joins Centrus Infrastructure Team as Director

Centrus is pleased to welcome David Craig into the Infrastructure Team as a Director.

With over 20 years of energy, utilities and infrastructure experience sitting across all sides of the transaction table as advisor, lender and principal sponsor, David has worked for leading firms both in the UK (pwc and Lloyds Banking Group) and most recently in Sydney for KPMG and Pacific Partnerships, the investment arm of the CIMIC Group, Australia’s largest infrastructure contractor.

Passionate about sustainability and the circular economy, David has been involved on a number of key renewable energy technology projects including onshore and offshore wind, solar PV, batteries, bioenergy and EfW as well as conventional generation and networks.

David’s experience of infrastructure has been focused on procurement, funding and delivery of complex large-scale projects often using innovative capital structures to ensure value for money outcomes.

Centrus provides corporate finance advisory services to public and private companies in the UK and Europe such as Yorkshire Water, UK Power Networks, EDP Naturgas Energia, Mutual Energy, Nortegas, NationalGrid, Thames Water, Electricity North West, Northern and Red Funnel. We also have strong working relationships with financial sponsors such as JP Morgan, Infracapital, FSI, DWS.

Centrus has supported clients across a range of infrastructure advisory mandates including strategic advice across capital structuring, whole business securitisation, credit ratings, restructuring and re-packaging of complex derivatives amongst other specialist subjects, and have now expanded its merger and acquisitions execution capabilities.

Centrus Celebrate 10 Year Anniversary

On the 22nd of June 2022, the Centrus team were joined by colleagues, clients, family, and friends to celebrate our 10 year anniversary at Sea Containers, London.

Looking back on the last 10 year, Phil Jenkins, co-founder and Managing Director at Centrus said:

“The last 10 years has been quite a journey, made possible by the great people who have worked on the team over that time, past and present, our fantastic and loyal clients who have put their trust in us. 

We are proud of the business we’ve built, our ethos, team culture, and the positive impact we have had both through our day to day work and via Centrus Communities. We are doubling down on this as we continue to focus on our core theme of financial solutions for Sustainability, Real Assets and Essential Services”. 

You can watch the video above for highlights of the evening – thank you to all our guests for an incredible celebration.

New Chief Sustainability & People Officer at Centrus

George Roffey is taking on the new position of Chief Sustainability & People Officer at Centrus

This role aligns the commitment to our people with the integrity of using our platform for positive ESG impact.

To sustain your purpose, you need to sustain your people.

At Centrus we have brought our HR and our sustainable business responsibilities together.  The range of work across these two elements is simply vast and both will benefit substantially from a coordinated approach.

Back in 2016, Corporate Social Responsibility (CSR) was the acronym en vogue, and in my experience, it was making good strides in community work but was too often a side of the desk effort.  It was only just starting to nod its head towards broader social impact, or the climate crisis and it was hardly ever in the same room as financial performance.  Under the new ESG acronym, it has thankfully now passed an inflection point.

Evidence, learning, ideas, sharing, goals, science, regulation are just some of the things helping and even more crucially, increased demand has shifted the momentum. I sometimes refer to ESG as the David Attenborough effect – something in which every generation is now motivated to play their part.

The sustainability ambition at Centrus was a core founding principle that first attracted me to working here 5 years ago; ‘Build a sustainable group to help the essential sectors in which we operate’. I was reading Waste to Wealth: The Circular Economy Advantage at the time (thank you Peter Lacy), and I was motivated to meet founders who wanted to use their financial expertise in a way that would have tangible impact on core sectors of the real economy.  I was motivated to meet founders who did more than pay lip service to helping change for the good.

Bringing this Together

Culminating the pieces that you can control through your platform of work is a decent starting point and in our service provision at Centrus we create products that bring financial and sustainability benefits – like ESG linked loans, bonds, and derivatives. In this service provision, people are our most valued asset and therefore linking HR and Sustainability on common ground better enables this asset.

Being valued and respected in the workplace and knowing how your role contributes to wider ESG Goals, is gold dust.  With this support and awareness, you are then very naturally an advocate of the mission externally and under this new role our people and business purpose are inextricably linked.

This will be no easy task, and there are so many pieces to the puzzle that each Centrus team member can fit to add tangible, positive momentum for the essential sectors in which we operate. I am excited to coordinate measurable progress.

George Roffey, CSPO

Centrus expands equity credentials with new Head of Real Estate

Centrus has appointed a new Head of Real Estate, Omer Fazal, who joins from CBRE’s real estate investment banking team.

Omer’s arrival is part of a wider strategy underway at Centrus to grow its offering across residential, healthcare and operating real estate companies with a focus on mergers and acquisitions, joint ventures and equity capital raising services. Given Centrus’ market-leading position in the affordable housing sector in the UK and Ireland, this will be a key area of focus, in particular working with a range of affordable housing providers and developers to diversify sources of funding by accessing long-term, institutional equity capital.

The appointment comes at a time where there is an increasing level of interest from institutional capital in the affordable residential sector in the UK given its secure, low-risk income profile and potential for growth with positive demand drivers and a constrained supply of good quality, affordable and professionally managed homes. In addition, the investor market is also attracted by the affordable housing sector’s very strong ESG characteristics, highlighted by the new widely adopted Sustainability Reporting Standard for Social Housing, which was published last year following a project initiated by Centrus and Peadbody.

“We are very pleased to welcome Omer to the Centrus team. This is a key part of an on-going strategy to build out our equity offering alongside our traditionally strong debt capabilities so that we can provide services to our clients right across the capital structure. As well as adding to our existing footprint in residential and social infrastructure, Omer’s focus on operational real estate will take us into another key real assets market.”

Phil Jenkins, Managing Director – Centrus

“This is an exciting time to be joining Centrus which is a clear market leader for Real Assets advisory across essential services sectors. With the ever-increasing demand from institutional investors for resilient income from robust business models, Centrus is in a unique place to provide differentiated, independent advice across residential, alternative and operational real estate sectors.”

Omer Fazal, Head of Real Estate – Centrus

Centrus initiatives demonstrate commitment to Sustainability & Zero-Carbon Agenda

In many areas of life and economic activity, the disruption caused by COVID-19 is accelerating shifts and patterns that were already well underway before the pandemic. One positive consequence of the near cessation of economic activity and transportation in the early stages of COVID-19 was the dramatic improvement in air quality experienced across the world. This offered a glimpse of the environmental improvements that may be within reach as businesses and communities re-evaluate priorities and re-shape to take advantage of the new opportunities that have presented themselves.

Our core corporate finance business at Centrus is centred around supporting essential service industries in the residential, accommodation, transportation and infrastructure sectors, and we recognise the importance of the role that we can play in furthering our clients’ sustainability and zero carbon objectives through the efficient financing of these initiatives.

Last year Centrus, with one of our housing association (HA) clients Peabody, initiated a project involving other leading HAs, investors and market participants to help establish a credible, meaningful and comparable set of Environmental, Social and Governance (“ESG”) criteria that housing associations can use to demonstrate their impact to the financial community and other stakeholders.

Following a series of workshops and with insight gathered from lenders and investors over many months, we presented in June this year a draft White Paper www.ESGsocialhousing.co.uk which proposed sector-standard ESG criteria and metrics for discussion and consultation. A final report and set of recommendations for this industry standard framework will be published on November 10th 2020, with widespread support and commitments to adopt the framework from a range of industry participants.

This successful initiative was followed up in September by Centrus forming a new partnership with a major UK pension fund, the global sustainability consultancy, Anthesis Group, and the renewable developer and solar installer Eden Sustainable, to offer solar and other renewable energy solutions to our U.K. network utility clients.

The rationale for this latest initiative is a recognition on our part that energy efficiency, sustainability and resilience will be key in moving towards ambitious net zero-carbon targets. Targeting some of the biggest users of energy in the country makes strategic and practical sense, particularly as many of these entities have the financial stability and covenant strength to support the 20 year plus power purchase agreements that underpin the required investment. In many cases they also have the land resources to allow on-site energy generation or “behind the meter” solutions that changes the economic proposition of the investment case.  This is driven in Great Britain by the fact that according to OFGEM’s latest publications, network, environmental and social obligation costs currently make up over 40% over the average electricity bill. This means that currently those that can generate energy on their own sites and use private wires to supply their energy needs have a considerable advantage.  There is always the risk that environmental and social levies will be recovered in some other way to reduce this advantage in the future, but whilst the status quo remains, there is a growing benefit to on-site generation compared to purchasing energy via the grid. Whilst the generation of energy for internal use and the delivery of this by private wire is nothing new, what has changed is that smaller scale and mixed generation projects have become viable and are now seen as both necessary and desirable as a means of delivering ambitious carbon reduction and sustainability targets.

For many of our larger energy consuming clients, embracing long-term sustainable energy solutions can deliver both financial efficiencies while also delivering on existing environmental commitments, and allow them to become more ambitious in the goals that they set on a sustainable future. Sectors which play an important role in servicing communities within the real economy are at the heart of our business and we are committed to promoting sustainable solutions and facilitating the financing required to deliver them.