PIC invests £50m in Portsmouth Water to fund reservoir construction

Written by Adam Cadle

16/03/2023

PIC has invested £50m in Portsmouth Water to fund the construction of the Havant Thicket Reservoir, the first reservoir to be built in the UK since the 1990s.

Situated in southern Hampshire, the reservoir is intended to address the significant water resource challenge faced by much of the South East of England and protect Hampshire’s rare chalk streams.

Thomas Foucoin, senior debt origination manager at PIC, said: “PIC has provided over £5bn of financing to greenfield and brownfield infrastructure projects, as well as corporate borrowers, in the last five years. Our team has a track record of tailoring financing solutions which match the needs of large infrastructure projects, including long tenors, deferred drawdowns, and lending in multiple currencies.”

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