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Arjun Infrastructure acquires Beckton Energy and Rothes CoRDe

Thursday, 22 August 2019

Monday, 25 February 2019

Travers Smith LLP has advised Arjun Infrastructure Partners ("Arjun") on the acquisition of two combined heat and power plants, Beckton Energy Limited ("Beckton") and Rothes CoRDe Limited ("Rothes"), from iCON Infrastructure Partners II and its co-investors.

Beckton is the owner of an 18MWe / 28MWth bio-liquids fired combined heat and power plant (CHP), which is strategically located in London and integrated with key infrastructure owned by the major utilities Cadent Gas Limited (formerly National Grid Gas Plc) and Thames Water Utilities Limited, to which Beckton provides heat and electricity respectively.

Rothes is the owner of an 8MWe/34MWth CHP plant located in Speyside, Scotland and uses a combination of woodchip and a by-product of the whisky distillation industry known as draff to sustainably generate electricity. Rothes plays a critical role in whisky distillers’ production chains and, more broadly, the local economy.

Both the Rothes and Beckton facilities are accredited to receive two renewable obligation certificates for each MWh of electricity generated.

Arjun is an independent infrastructure asset management company offering institutional investors direct access to infrastructure investments.

The Travers Smith team was led by Corporate Senior Counsel Jonathan Walters and Associate Jade Macdonald. Other team members providing specialist advice on the transaction included:

  • Regulatory & Environment: Doug Bryden (Partner), John Buttanshaw (Senior Associate)
  • Commercial: Ben Chivers (Partner), Sonny Mallet (Senior Associate) and Elise Jones (Associate)
  • Financing: Barry Newman (Partner) and Jonathan Clapshaw (Senior Associate).
iCON was advised by Norton Rose Fulbright LLP.