P3P Refinances Teesside Energy Centre
On 28 May 2021, P3P’s 6.6MWe Spark Steam CHP Energy Centre at Teesside secured an approximate £8 million senior limited recourse project finance debt refinancing with the Triple Point Energy Efficiency Infrastructure Company. P3P had previously acquired the remaining equity interests in the project in March 2021, adding the site to P3P’s growing portfolio of horticultural and industrial CHP energy centres. P3P built and operates the highly efficient CHP energy centre which also supplies electricity, heat and CO2 to P3P’s adjacent horticulture site operated by the UK’s largest tomato grower, APS Salads.
“I am delighted that TEEC has made this investment into an asset which delivers highly energy efficient services to an important UK domestic producer of food items.” Jonathan Parr, Triple Point.
“We are pleased to have secured TEEC’s deployment of sustainability-focused capital in our Teesside energy centre project, following a similar refinance in March of the Isle of Wight energy centres we also manage. This refinancing capitalises on the excellent operational history at the site to lower borrowing costs substantially.” – Julian Harris, P3P Partners.
TEEC’s press release may be found here: https://www.londonstockexchange.com/news-article/TEEC/investment-in-chp-asset/14997967