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Power Station Portfolio
RPS was retained by a large power generating plc to undertake environmental due diligence on nine UK based CCGT, OCGT, Biomass, CHP, Coal and Oil-fired power station facilities, related waste disposal / treatment sites and land holdings as part of their plans to separate specific assets into a new company venture.
Four other assets including a bulk storage terminal, underground gas storage facility, engineering workshop and agricultural land holdings were also assessed as part of the due diligence programme.
Key details
Project name
- Power Station Portfolio
Client
- Large Power Generating Plc
Location
- UK
Services provided
- Liability Due Diligence
- Environmental Permitting
- Contaminated Land & Remediation
Challenge
RPS initially completed inspections of nine power station facilities within a two week window at locations across England and Wales.
This involved the detailed review of existing information held by the client followed by inspection of each facility, assessment of likely areas of historical and current environmental liability typically associated with land contamination and the reporting of costs to address these potential liabilities. The costs were organised on a worst case, likely case and best case scenario and were based on the type of risk likely to be encountered, including liability under Part IIA, the Environmental Damage Regulations and other potential regulatory or local authority enforcement.
Solution
Through diligent planning and organisation, our team completed the inspections within the set timeframes, which included some of the largest facilities in Europe. We worked closely with our client to ensure the project ran smoothly and was delivered as programmed.
Our derived remedial costs were utilised by company management to set aside accounting provisions for future site remediation and liability mitigation. These costs were carried through during the set-up of the new company venture.
Project statistics
2
Week inspection window
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Key contacts
James Carlisle
Operational Director - Transaction Advisory & Due Diligence