Global law firm Ashurst Perkins Coie has advised iCON Infrastructure Partners IV, L.P. on the sale of a 49.78% stake in the South East London Combined Heat and Power waste-to-energy plant (“SELCHP”) to MEAG, the asset manager of Munich Re.
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.
The co-owner and operator of the facility remains Veolia, a multinational publicly listed company headquartered in Paris whose business activities include waste management.
The Ashurst Perkins Coie team was led by corporate partners Jason Radford and Christy O'Connell, supported by Jade MacDonald (senior associate), Rebekah Oakes (associate) and Jessica Ma (solicitor). Laura Ho (partner), Daniel Smith (senior associate) and Neil Moran (senior associate) advised on finance aspects. Nicholas Gardner (partner) and Christopher Phillips (associate) advised on tax.
