Infrastructure
Core expertise across infrastructure sectors.
600+
client engagements since inception
£20 billion
of infrastructure financings
£4 billion
of renewable energy financings
client engagements since inception
of infrastructure financings
of renewable energy financings
Our Infrastructure practice has grown to become one of the leading corporate finance advisory teams. We provide a broad range of corporate finance, risk management & hedging advice to clients across the utilities, port and airport sectors.
Centrus is retained advisor to over 50% of the regulated utilities in the UK. We work for corporate, investor and public sector clients, as well as collaborating closely with our Real Estate and Transport teams on crossover opportunities.
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Regulated Utilities
We’ve worked with the UK’s biggest water, gas and electricity networks on strategic acquisitions, restructuring, divestments and refinancings.
Renewables
We specialise in strategic corporate finance advisory services on renewable energy projects.
Energy Transition:
Centrus is passionate about securing energy resilience and funding the energy transition to net zero. Covering areas that include hydrogen & green gas, battery storage and electrification.
Other Essential Real Assets
Stable Infrastructure real assets, such as airports, ports and operational real estate.
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Centrus advises Finerge on c.€1.6bn Hedge Restructure
01.09.2023 “Centrus supported us through every step of the process, implementing effective hedging strategies to support our restructure. Their advice was always transparent and they helped us understand the crucial effects of each step. Our experience with Centrus was commendable and we wouldn’t hesitate to work with them again.”
Centrus arranges a €60m Private Placement for Impax Environmental Markets plc
27.07.2023 “Using structural debt with the aim of enhancing returns for shareholders is a key advantage of the investment trust structure. This financing provides attractive long-term debt capital to be deployed for the benefit of shareholders for many years to come and comes at a time when the Board and the Manager believe that portfolio valuation makes gearing desirable”.
Consortium acts as financial adviser to Ofgem on the £1.14bn transfer of offshore wind farm transmission assets
20.07.2023 “Offshore Windfarms are playing a critical role in the UK’s transition to renewable energy and Net Zero targets. It is a fantastic for Centrus and our consortium colleagues to play their part in closing out this important deal and its contribution to energy transition”.
Centrus advises Pennon on acquisition of four solar PV projects and co-located battery storage
11.07.2023 “Centrus has been an integral and highly valued part of our project evaluation and acquisition team. Their technical and commercial skills have been central in ensuring that we have identified the right assets and have had a plan to build out and commercialise those assets on the right terms.”
Centrus arranges £150m 10-12-year Private Placement for HICL Infrastructure PLC
22.05.23 “We are pleased to have worked with Centrus to diversify our capital sources and access long-term funding. Their market knowledge and experience was key in assisting us navigate the challenging financial environment and helping us achieve our funding objectives”
Centrus advises on a £650m Sustainability Linked RCF for HICL Infrastructure PLC
28.03.23 “We are very pleased to have worked with Centrus to renegotiate our sustainability linked RCF. Their expert market knowledge and collaborative approach really helped us to achieve our funding objectives in what has been a very volatile economic environment ”
Centrus advises Portsmouth Water on £325m investment for first UK reservoir in 30 years
14.03.23 “We are delighted to have secured the £325 million investment required to construct Havant Thicket Reservoir. This will be the first large scale water storage reservoir to be built in the UK since the 1980s. It will play a key role in protecting internationally important chalk rivers – the River Test and the River Itchen, by securing a new, sustainable source of water for the region.”
Centrus arranges funding for DBE Energy anaerobic digestion plant
04.01.23 “Centrus supported throughout, actively managing the process from start to finish. The team used their specific sector knowledge and expertise in structuring complex financings to run a sale process. We are delighted with the outcome and look forward to the future in partnership with Lazard Investment Management.”
Centrus advises Yorkshire Water on £170m new Debt Service Reserve Guarantee
26.04.22 “Centrus has been a long-term financial advisor to Yorkshire Water and identified this innovative facility to us. The successful outcome reflects a collaborative approach, providing a long-term, cost-effective solution to our requirements. We thank all our advisors, including Centrus, for their support and expert advice through a complex process.”
Centrus advises Yorkshire Water on the refinancing of £95m HoldCo facilities
25.04.22 “I am delighted that we achieved this positive outcome, with efficient pricing and the introduction of a common terms platform. We would like to thank Centrus and Linklaters for their expertise, advice and support on this transaction.”
Centrus supports InfraRed with the implementation of CPI hedging
28.03.22 “Centrus supported us through this CPI hedging transaction, they actively managed the process from start to finish and their analysis helped us build robustness into the cashflows and real equity returns under different inflation scenarios.”
Centrus supports Equitix transition from LIBOR to SONIA
16.02.22 “Centrus´ expertise and project management skills helped us transition from LIBOR to SONIA on over 100 different financing platforms. This also involved managing a range of stakeholders, including 40+ existing lending relationships. We are delighted with their support, which resulted in significant efficiencies.”
Centrus consortium appointed to advise Ofgem under new four-year contract for offshore electricity transmission assets
02.01.22 “Centrus is delighted that Ofgem has chosen its consortium to continue to act as financial adviser on the sales processes to select the offshore transmission owners (“OFTOs”) for the transmission assets related to offshore wind farms.”
Centrus arranges £100m funding for a student accommodation PPP project for LSE
23.12.21 “DIF is excited to be growing its portfolio in the student accommodation sector. We look forward to partnering with a world-class university and to support it with its student accommodation delivery.”
Centrus advises ESB on £550m multi-tranche derivative portfolio
“ESB engaged Centrus to support in formulating its strategy to manage inflation risk on certain UK assets, particularly its existing UK RPI derivative portfolio.”
Centrus arranges £145m funding for South Staffordshire Plc
“Centrus’ support throughout this process enabled the group to reinforce its capital structure via a dual-track liability management and fundraise process, delivered in a tight timetable and on competitive terms.”
Centrus advises TRIG on its first ESG-linked inflation hedging transaction
“TRIG is delighted to have worked with Centrus and its hedging banks to implement a ground-breaking sustainability-linked inflation hedging agreement. We are committed to embedding sustainability into all our activities across the full investment cycle to help ensure sustainable returns for our investors.”
Centrus and fellow Smith Square Partners’ consortium members advise Ofgem on preferred bidder for £600m offshore wind transmission asset
“Ofgem has announced that ETEPCO, the Equitix and Japanese utility TEPCO Power Grid consortium, has been selected as preferred bidder for the offshore wind transmission asset connecting the 850MW Triton Knoll wind farm to the Lincolnshire coast. The asset is valued at over £600 million.”
Centrus advises Yorkshire Water on restructuring index linked derivatives with mandatory breaks in 2023
“We are really pleased to have delivered on our commitment to manage mandatory breaks on our derivatives portfolio in a timely and efficient manner and I would like to thank our counterparties and our advisors, Centrus, for delivering a great result for the Yorkshire Water business.”
Northern Gas Networks goes live with titantreasury, delivered by Centrus
“We originally selected titantreasury to meet our system needs for derivatives valuations and IFRS9 hedge accounting but already it is giving us so much more, including the automation of interest payments and monthly finance charges accruals and streamlining our reporting and forecasting processes.”
Centrus advises Affinity Water on CPI hedging programme
Through volatile markets, Centrus advised Affinity Water (“AW”) on the successful completion of a large CPI hedging programme across multiple tranches and a wide range of counterparties.
Centrus advises Ventient Energy on €1bn of interest rate swaps
“This landmark transaction for Ventient successfully allows it to establish a renewable platform outside of the UK. Centrus was able to assist in the evaluation of the associated pre-hedging and long-term hedging strategy to manage risk in the current negative interest rate environment. This ultimately led to an effective and value accretive solution for our clients at relatively low cost.”
Centrus advises USS on £100m preferred equity renewables investment
“Centrus advised The Universities Superannuation Scheme (“USS”) on the completion of a £100m Preferred Equity investment in NextEnergy Solar Fund Ltd (“NESF”), made via USS’ L1 Renewables investment vehicle. USS is one of the UK’s largest pension schemes, providing pension plans to 440,000 members and has in excess of £68bn invested in public and private markets.”
Centrus to advise the CAA in relation to Heathrow’s expansion plans and price control
“We are delighted to have been appointed to advise the CAA on the basis of our experience and expertise in infrastructure financing. We look forward to working with the CAA and other stakeholders over the medium term to help deliver a successful outcome.”