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.

Talk to an expert

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.

our people

Meet the Infrastructure team

Geoff Knight

Managing Director
Geoff has over 20 years of investment banking experience gained at RBC Capital Markets and Lloyds...

Adam MacDonald

Managing Director
Adam has over 20 years of corporate finance and investment banking experience gained at various...

Mark Taheny

Senior Director
As Senior Director, Mark has lead the debt financing and hedging of a number of significant...

Adrian Li

Managing Director
Adrian has over 16 years of investment banking and financial advisory experience focused on...

Athina Panayiotou

Assistant Director
Athina has extensive experience in corporate finance in the infrastructure sector focusing on...

Terence Amako

Head of M&A
Terence is an experienced corporate finance professional with over 18 years of corporate finance,...

David Craig

Director
David has over 20 years of energy, utilities and infrastructure experience sitting across all sides...

Jason Murphy

Managing Director and Centrus Advisors Limited CEO
Jason is co-founder and CEO of Centrus in Ireland and also sits on the group’s board of directors...

Gavin Friel

Director
Gavin works on a diverse range of mandates for Infrastructure, Utilities, Social Housing and...

Ivan McKinlay

Senior Associate
Ivan joined Centrus in the Autumn of 2016 soon after graduating from the University of Warwick...

Scott Wilsher

Senior Associate
Scott joined the Infrastructure, Energy and Utilities advisory business at Centrus in 2021 from...

Shruti Uppala

Senior Associate
Shruti has over 8 years’ experience within the infrastructure industry, working across renewable...

Barney Harris

Senior Associate
Experienced in business planning and treasury management as well as managing and advising on...

Ewen Alexander

Analyst
Ewen is an Analyst covering the infrastructure and transportation sectors.

Ivan Dobrev

Analyst
Ivan is an Analyst covering the Infrastructure sector.
Latest Updates

Our credentials

Centrus arranges funding for DBE Energy anaerobic digestion plant 

“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.”

Steve Sharratt CEO of DBE Energy Ltd

Centrus advises Yorkshire Water on £170m new Debt Service Reserve Guarantee

“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.”

David Gregg Head of Corporate Finance – Yorkshire Water

Centrus advises Yorkshire Water on the refinancing of £95m HoldCo facilities

“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.”

David Gregg Head of Corporate Finance – Yorkshire Water

Centrus supports InfraRed with the implementation of CPI hedging

“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.”

Ben Smith Portfolio Management – InfraRed Capital Partners

Centrus supports Equitix transition from LIBOR to SONIA

“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.”

Sophia Thorpe-Costa Director – Equitix

Centrus consortium appointed to advise Ofgem under new four-year contract for offshore electricity transmission assets

“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.”

Adam MacDonald Managing Director - Centrus

Centrus arranges £100m funding for a student accommodation PPP project for LSE

“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.”

Gijs Voskuyl Partner and Head of Investments for the DIF V and VI strategy, says:

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.”

Rob O’Malley Group CFO – South Staffordshire Plc

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.”

Phil George Head of Portfolio Management - TRIG

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.”

Adam MacDonald Managing Director - Centrus

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.”

David Gregg Head of Corporate Finance - Yorkshire Water

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.”

Ian Clark Head of Treasury - NGN

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.”

Geoff Knight Managing Director - Centrus

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.”

Adrian Li Managing Director - Centrus

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.”

Geoff Knight Managing Director - Centrus

Pennon Group and titantreasury success story

“Pennon was fully supported the Centrus support team and the implementation was a very smooth transition, tailored around their timetable and needs.”

Terena Williams Customer Relationship Manager - Centrus

Centrus advises on innovative £200m early financing of Mutual Energy’s Gas to the West project

“Centrus worked tirelessly to help deliver a fantastic deal for customers which means that the cost of debt repayments will be around 35% less than they were expected to be when Mutual won the Gas to the West tender in 2014.  This amounts to an additional saving of about £50m in present value terms over and above the customer savings already expected from the bidding process.”

Gerard McIlroy Finance Director - Mutual Energy

Centrus advises Electricity North West on successful £68m index-linked swap restructuring

“This is the third time that Centrus has supported the Electricity North West group in successfully implementing a bifurcated derivative structure which demonstrates our capability in specialist capital market and derivative advisory and also shows the continued accessibility of the investor pool in this limited market.”

Geoff Knight Managing Director - Centrus

Centrus advises NorteGas on €1.3bn refinancing

“NorteGas Energía Distribución (“NorteGas”) successfully launched and priced their inaugural €1.3bn dual-tranche bond transaction on 21st September 2017, with a €550m 5 year priced at mid-swaps+68bps and a €750m 10-year priced at mid-swaps+118bps. The transaction was more than four times oversubscribed and is the largest debut bond from a Spanish issuer since 1999. The bonds are expected to be rated BBB- by Standard & Poor’s.”

Geoff Knight Managing Director - Centrus
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