MEAG has acquired from iCON Infrastructure Partners IV, L.P. a 49.78% stake in the South East London Combined Heat and Power waste-to-energy plant (“SELCHP”), located in south-east London, United Kingdom.
Co-owner and operator of the facility is Veolia, a multinational publicly listed company headquartered in Paris whose business activities include waste management.
SELCHP benefits from long-term, inflation-indexed waste supply contracts underpinned by expected stable and high waste volumes in the catchment area. In addition, revenues are generated through power offtake.
David Pecher, Head of Infrastructure Equity Transactions at MEAG: “This acquisition is a strong fit for our infrastructure equity strategy: long-term contracted revenues, low correlation to broader market cycles, and a defensive risk profile that complements our existing portfolio.”
Tobias Kerschbaumer, Senior Investment Manager at MEAG: “Waste-to-energy assets sit at the intersection of essential infrastructure and the energy transition – they solve a waste management need while generating reliable power and heat. That combination of social utility and predictable cash flow is exactly what we look for in core infrastructure.”
